Agencies-Gaza post
Why bitcoin is falling today??
This is one of the big questions on crypto investors’ and traders’ minds right now, especially after a number of major cryptocurrencies, including Bitcoin.
The worldwide crypto market valuation was down to $1.23 trillion at the time of writing, with practically every major crypto asset in the red. (Today’s crypto pricing can be found here.) Bitcoin has also dropped roughly 6% in the last 24 hours.
While commentators continue to label today’s crypto market decline as a “correction,” the market is unable to gain traction.
The price of Cardano (ADA) has increased by 30% today. Here’s a look at what Cardano is and why it’s quickly gaining popularity.
According to experts, the crypto market is following in the footsteps of stock markets, and the chances of traders being optimistic on cryptos are slim.
“With US equities seeing yet another day of correction, the crypto markets followed suit. The probabilities of traders being positive on cryptocurrencies were reduced due to the high link between BTC and the S&P 500 index, according to Darshan Bathija, CEO and Co-Founder of crypto exchange Vauld.
“The gains earned in the previous few days were wiped out as BTC fell below 30,000. “The prices of altcoins have also fallen,” he noted.
Low risk appetite among traders and investors, especially after the Terra (Luna) catastrophe, could be one of the reasons for declining crypto values.
