Why has the cryptocurrency market fallen today?

The riskiest assets bled to death from a war situation All major digital tokens fell apart on Tuesday. Avalanche plunged 15 percent, followed by a 10 to 12 percent drop in major altcoins. Over the past week, the cryptocurrency market has seen massive declines, reaching lows not seen in months. On March 18, bitcoin and ether welcomed a long-awaited uptrend, as the price of coins rose above their crucial resistance marks.

I paid 0.0179 ether plus fees for a cartoon pig, and it was a headache from start to finish made worse by the uselessness of my new asset. DOGE and SHIB avoided red on Friday, but were in the lead, with ApeCoin and Avalanche in the lead. The fall in global stocks has been caused by continued uncertainty around a new Covid variant and higher interest rates, which will make it more expensive for companies to borrow money. This has spread to the cryptocurrency market, combined with fears about further regulation.

Other stories are more varied in terms of what it means for cryptocurrencies, such as the US central bank. The Federal Reserve, which considers whether to launch its own digital currency. He added that “the spread of cryptocurrencies could cause people to withdraw their savings from the Russian financial sector and, subsequently, diminish their ability to finance the real sector and potential economic growth, reducing the number of jobs and the potential for increased household income. Voyager's cryptocurrency confidence survey, which involved 6,000 participants, revealed that 87% of crypto owners say they plan to retain their cryptocurrency in the medium to long term.

Bitcoin wasn't the only cryptocurrency to feel the initial effects, with most of the top 10 experiencing drops in value. Bitcoin and other leading cryptocurrencies saw a significant drop in share price after investors began to dispose of mining equipment as China announced new regulations.

Cryptocurrency exchange

platforms like Binance have been feeling the heat around the world as regulators and governments began to turn the screws on the operations of such platforms in the wake of the global crackdown on cryptocurrencies. You may not be able to access your investment if platforms go down and you can't turn cryptocurrencies back into cash.

With cryptocurrencies often moving in conjunction with Bitcoin, Ethereum, the cryptocurrency synonymous with the growing crypto trend of NFTs, was trading downwards. Today, the global crypto market is down almost 7% over the past 24 hours, with the biggest losers including Bitcoin, Ethereum, Tether Binance coin (BNB), Cardano, XRP, and Solana. The downward fall in cryptocurrency prices suggests that the crash that saw prices fall in early January, when Kazakhstan's crypto mining empire was hit during political unrest, could continue amid a market sell-off. And Etoro customers were blocked from accessing their accounts after the service went down during a crypto collapse.

And when that happens, it tends to create a link between traditional markets and the cryptocurrency market. Potential interest rate hikes by the Fed would combat inflation and thus further reduce the value of cryptocurrencies, which have long been seen as a hedge for inflation, an asset protected against rising market prices. The future of cryptocurrencies is sure to include much more volatility, and experts say all this is normal. After a year of gains and all-time highs, cryptocurrencies are going through a turbulent time with unpredictable price changes.

THIS year has already been difficult for major cryptocurrencies, including Bitcoin, Ethereum, BNB, Cardano and XRP. .