Hundreds of thousands of people in the market have gone bankrupt and run away, and altcoins are collectively taken. What is the reason?
Bitcoin fell to $65,000 this morning, triggering a general plunge in altcoins.
Among them, BAKE fell by 26.6% in 24 hours and is now quoted at $0.268; W coin fell by 24.5% in 24 hours and is now quoted at $0.592; ARKM fell by 22.16% in 24 hours and is now quoted at $1.56; AR coin fell by 22.8% in 24 hours and is now quoted at $23.89; EDU coin fell by 23.4% in 24 hours and is now quoted at $0.635; CRV coin fell by 21.58% in 24 hours and is now quoted at $0.47.
Bitcoin has risen to $70,000 this year, breaking through the previous high in one fell swoop, and then it has been trading sideways like a deflated balloon.
It is said that long-term decline is inevitable, but Bitcoin has been hovering between 60,000 US dollars and 70,000 US dollars, neither rising nor falling.
This is often the most annoying time. Those who have not bought and those who have bought are very anxious. You are afraid of being trapped if the price falls, and I am afraid of missing out if the price rises. In the end, I can't escape the fate of being tortured by the dealer. In less than two hours, 1.7 billion US dollars were liquidated.
Several reasons for the sharp drop last night
1️⃣ The Federal Reserve suddenly announced that the original three interest rate cuts would be reduced to one. The expected discount of the interest rate cut was too large, which led to a direct plunge, but it does not mean that there is no confidence.
2️⃣ The three major US stock indexes fell collectively, with the Dow Jones Industrial Average falling 1.24%, the Nasdaq falling 1.62%, and the S&P 500 falling 1.45%. Popular technology stocks fell across the board, with Nvidia, Tesla, and Meta falling more than 2%, Microsoft and Google falling more than 1%, directly collapsing the currency circle.
3️⃣ Bitcoin will be halved in one week, and the good news will turn into bad news
Don't be discouraged. The big drop is not a big trend at all. After it stabilizes, it is a good opportunity to buy the bottom in batches. Sooner or later, it will rise again. The spot market can bear the pain for a while, and the number of coins has not decreased. And those who play contract explosions can't go back
This wave of Bitcoin's decline seems to have a greater impact on the altcoin market, and the decline of various currencies is obvious. However, we also know that the volatility of the cryptocurrency market has always been one of its characteristics, so investors, don't forget to do a good job of risk control!
Click to follow the avatar. If you don't have a direction, admit it if you lose, and admit it when you should admit defeat. Calm down first, you can come to get a free layout, take you a ride, and how much you can earn back depends on the opportunity
