Bitcoin extended its losing streak to a record nine days and neared the $20,000 level after Asian markets closed. The largest cryptocurrency by market capitalization is down 30% decline over the past week.
“We believe that the immediate trigger for the crypto crash appears to be a massive sell-off by investors amid the pausing of withdrawal services by crypto lending firm Celsius,” Zhang told CoinDesk in an email, adding the development came as crypto traders were just recovering from the implosion of Terra last month.
Meanwhile, Huobi’s Zhang says the market could see further declines as more liquidations occur and players are forced to sell. Sentiment among other crypto traders remains mixed. BitMEX founder Arthur Hayes fears the market has not yet hit rock bottom, and we could see a massive sell-off in cryptocurrencies if bitcoin falls below $20,000. Elsewhere, Galaxy Digital head Mike Novogratz said in a tweet that bitcoin is close to the “bottom” and will hold above $20,000.
shauryamalwa JPRubin23 Nobody took serious Terra luna and ust crush but after this crush nothing will be same. I don't trust crypto anymore. Its not save its not worth taking risk because there is no rule here. Don't invest your hard earned money in to this la la land.
shauryamalwa JPRubin23 La debilidad de los mercados la más fuerte
shauryamalwa JPRubin23 just look how easy it is, wow, im impressed
shauryamalwa JPRubin23