Bitcoin & Ethereum has dropped its price by more than 70% since it hit a record high in November 2021.



On June 18, 2022, the virtual currency Bitcoin fell below $ 20,000 for the first time since December 2020. Since then, the price of Bitcoin has recovered to the $ 20,000 level again, but the price has fallen by more than 70% from the record high in November 2021.

Bitcoin, Ether Bounce Off Lows After Record-Breaking Rout --Bloomberg

https://www.bloomberg.com/news/articles/2022-06-18/bitcoin-breaches-20-000-for-the-first-time-since-2020-l4jjjy7z

Bitcoin, which has the highest market capitalization among cryptocurrencies, plummeted its price on June 18. At one point, the price per Bitcoin (BTC) will drop sharply to $ 17,599 (about 2.4 million yen), and the economic newspaper Bloomberg said, 'According to our data, it will be a record price drop for 12 consecutive days. '.

Ethereum, another male in the cryptocurrency industry, also recorded a low of $ 881 per Ether (ETH) since January 2021, which is a 19% drop from just before. It will be. After that, it recovered to the $ 1000 level (about 135,000 yen) per ETH.

However, both Bitcoin and Ethereum, the leaders in the cryptocurrency industry, have dropped prices by more than 70% from their all-time highs recorded in early November 2021. Noel Acheson of Genesis, known as one of the largest and most well-known financial institutions in the field of digital assets, said, 'We are seeing moreliquidations lowering prices and worsening sentiment . That is the flow that induces further liquidation and negative sentiment. '



According to Coinglass 's data, which analyzes virtual currency price charts and market data, the total clearing amount of the virtual currency market has recorded $ 566.7 million (about 76 billion yen) in the past 24 hours, of which Bitcoin Accounts for $ 271 million (about 37 billion yen), and Ethereum accounts for $ 192 million (about 26 billion yen).

Affected by the drop in Bitcoin and Ethereum, cryptocurrencies such as Cardano, Solana, Dogecoin and Polkadot have dropped by 12-14%, and privacy tokens such as Monero and G-Cash have also dropped by around 16%. did.

In the United States, the Federal Reserve raised key interest rates by three-quarters on June 15, 2022, the largest increase since 1994. It is clear that this is affecting the significant price decline that occurred in the cryptocurrency market.

In addition, Terra (LUNA), whose price dropped by 99.99%, is also thought to have adversely affected the entire cryptocurrency market. During Terra's plunge, crypto hedge fund Three Arrows Capital suffered heavy losses, saying it was 'considering asset sales and bailouts,' followed by other financial institutions. As a result, Bloomberg reports that 'these also strengthened the dark clouds throughout the cryptocurrency market.'

What happened to the virtual currency 'Terra (LUNA)' whose price dropped by 99.99% --GIGAZINE



Bloomberg analyst Mike McGrone said, 'Bitcoin traded for about $ 300 from 2014 to 2015 and $ 5,000 from 2018 to 2019. The price has risen to about 10,000 yen). Although it has continued to fluctuate since then, there is a good chance that Bitcoin will settle around $ 20,000 in the future. It's a sign of value maturity. '

According to data from CoinGecko, the size of the entire cryptocurrency market was about $ 3 trillion (about 400 trillion yen) as of November 2021, but about $ 881 billion (about) on June 19, 2022 (Sunday). It has been reduced to 120 trillion yen).

in Note, Posted by logu_ii