♨️♨️Reason for crypto market is crush ♨️♨️

Here are some key reasons for a potential downturn:FTX CollapseOne significant reason for the recent downturn in the crypto market is the near-bankruptcy of FTX, a major cryptocurrency exchange. The conflict between FTX and Binance has caused ripples across the market, affecting key currencies such as Bitcoin, which has lost more than 75% of its value since November.End of Pandemic-Era BoomThe period from March 2020 through most of 2021 saw unexpected changes in investment patterns as people invested money they saved from not spending on travel, dining, and other activities due to the pandemic. Many chose to invest in emerging markets like cryptocurrencies, but now that crypto assets are losing value, investor panic is setting in and causing red charts across the board.Luna CrashThe collapse of the Luna cryptocurrency is another major factor contributing to the crypto crash. Luna is part of the Terra blockchain and works alongside another coin called UST. When UST's market price rises too high, users can convert it back to Luna to keep prices stable. However, the apparent stability of the system fell apart, leading to significant losses for Luna and UST, which coincided with broader crypto market declines.Exchange HacksHacks of major crypto exchanges can also lead to market downturns. When investors lose funds due to a security breach, they may lose faith in crypto and rush to convert their assets into stable fiat currencies. Since exchanges are central to buying, selling, and trading crypto, security issues can cause panic and large-scale sell-offs.Limited UtilityWhile cryptocurrencies like Bitcoin have potential as a global payment method, they are primarily seen as investment vehicles rather than everyday transaction tools. This limited utility is cited by experts as one of the main reasons for crypto market.

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