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Another severe recession in the cryptocurrency market

Another severe recession in the cryptocurrency market

Once again landslide-like movements in the cryptocurrency market. after this Red Sunday Several days ago, which actually led to a price correction, the cryptocurrency market fell sharply again. All in all, the market value has decreased by about 12 per cent in the past 12 hours and is now at 1.47 trillion euros – noticeably more than 200 billion euros.

After Bitcoin has remained stable in the past few days, while Altcoins have fluctuated wildly, the main currency in the crypto industry is now affected. The price is more than 20 percent lower than the previous week and only about 40,500 euros – the highest price just under 54,000 euros, which was reached on April 14, is now very far away again. The total market capitalization of BTC is now only € 855 billion.

Red Sunday: Bitcoin and Co.’s tough price correction

Altcoins give way a lot

The rest of the market is currently in flaming red. After reaching an all-time high on Thursday (Informed usI backed off again – yesterday € 2,100 was only around € 1,800. It’s similar to many other coding values: drops in the two-digit percentage range can be seen everywhere. Some altcoins like XRP (at least 22 percent) or Dogecoin (less than 30 percent) are particularly hard hit – in fact those values ​​that have grown particularly strong in recent weeks, are fueled by pumps.

Of course, things are currently happening on exchanges because millions of users are trying to get rid of their coins and tokens. Trading volumes on Binance, Coinbase Pro, Huobi Global or Kraken are currently increasing. First of all, one can notice how investors are trying to escape from BTC to Stablecoin Ether (USDT), but there is currently intense trading against Fiat as well.

Ethereum hits a new all-time high of over 2,100 euros