What's going on? Everyone is wondering what's going on?
Warning posted on December 11
Accelerating collapse since a week until now December 20, 2024 at 2:10 pm Mecca time
Sharp decline in market value, down more than $520 billion in the past 3 days
Cryptocurrency markets witnessed sharp fluctuations and noticeable declines in December 2024, due to several main factors:
1. Tight monetary policy: The US Federal Reserve has indicated that it will cut interest rates, which has increased pressure on riskier assets such as cryptocurrencies.
2. Geopolitical tensions: The escalating conflict between Israel and Iran, as well as what is happening in Syria, Yemen and the Middle East, has temporarily halted the purchase of digital currencies, which has partially contributed to the decline in prices.
3. Massive Futures Liquidation: The market was hit by a wave of massive futures liquidations, which led to a sharp drop in the prices of major coins such as Bitcoin, Ethereum, XRP, Solana, Dogecoin and many more.
Cryptocurrency chart for the past 24 hours
See the latest market update December 20, 2024 at 2 pm Mecca Time
4. Quantum computing concerns: Google’s tests of the “Willow” chip have raised concerns about the privacy and security of cryptocurrencies, leading to a decline in investor confidence.
5. Regulatory tensions: Regulatory uncertainty has been rising in major markets such as the United States and China, as governments continue to impose restrictions on the use of cryptocurrencies, affecting investor confidence.
6. Market Correction: Cryptocurrencies have seen strong gains in recent weeks, which has led the market to correct prices as a result of profit-taking sales by investors.
These factors combined to send Bitcoin and other cryptocurrencies plummeting, with the market losing more than $520 billion in market value over a 3-day period.
We warn against entering the uptrend now, the decline is continuing, and if it rebounds, the price will rebound a little and then fall deeply.
