Why All Crypto Going Down?

Why All Crypto Going Down?

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Several recent problems and a concomitant tightening of monetary policy have contributed to the large, continued decline of the bitcoin market. The central banks of several nations raised rates, which also contributed to the decline. As long as this trend continues, cryptocurrency rates will decline. Several investment in cryptocurrency fans show concern about their portfolios today and ask why all cryptocurrencies are declining.

The price of bitcoin decreased by roughly 15 percent in June, reaching its lowest point since the year 2020, when it was valued at under USD 24,000. The first cryptocurrency is valued at USD 22.2000, according to Coinmarketcap. Other cryptocurrencies’ values also dropped; Solana and Dogecoin by 16 percent, Ethereum by 17 percent, and Monero by 12%. As a result, the price of bitcoin dropped dramatically, causing other cryptocurrencies to decline today.

Why Is The Cryptocurrency Market Falling?

In June, when the price dropped to USD 27,500, the decline in bitcoin started, which then caused other cryptocurrencies to decline. The value of BTC has been declining concurrently since March 2022, but it was around USD 30,000 at the end of May. Crypto specialists give three arguments as to why the market is currently declining.

Bloomberg believes that among these, US inflation data is the primary cause. According to the United States Federal Bureau of Statistics, the CPI climbed by 8.6 percent in June. Food was excluded from inflation, which rose by 6 percent. The numbers seemed to be below analysts’ projections, which called for increases in the CPI of 8.3 percent and core inflation of 5.9 percent. This is a negative record since 1981.

The second reason is that various nations’ monetary policies are becoming more restrictive. In May, the United States Federal Reserve increased the base rate (the rate at which United States banks lend to one another) by 50 basis points, bringing it to between 0.75 and 1 percent. The growth is at its highest level since 2000. Individuals choose to invest in less hazardous assets as a result of the potential decline of cryptocurrency.

The TerraUSD stablecoin failure and associated processes, which have damaged market confidence in such ventures, also impact the cryptocurrency market. The cryptocurrency called Luna that was employed to issue it fell by 76.4 percent after losing its peg to the USD. Almost all of the investments of TerraUSD’s backer, the Luna Foundation Guard, have been used to spend USD 2.9 billion in bitcoin in defense of the token’s dollar peg.

The Cryptocurrency Crash

There are many reasons, involving public opinion, negative media coverage, political interference, and crackdowns. China forbade banking institutions and payment providers from offering cryptocurrency-related services as of May 2021. Additionally, all of the Bitcoin miners

in China were closed down. Elon Musk stated Tesla would stop accepting Bitcoin owing to environmental problems around the same time.

Musk plans to start using Bitcoin again after it is mined using more environmentally friendly electricity. The United States Federal Reserve has lately identified digital assets for the first time. It warned that asset values might be susceptible to significant falls should investors’ risk appetite weaken, interest rates increase abruptly, or the economy halt in its Monetary Policy Report to Congress.

Should One Invest In Cryptocurrency?

Currently, there is a challenging time for the cryptocurrency market. However, this does not imply that cryptocurrencies should no longer be taken seriously. Bitcoin and many of the greatest alternative coins, like Ethereum and Litecoin, still have significant investment prospects and are being traded using a few very reliable bitcoin trading software. Do not exaggerate the present cryptocurrency story.

Will the market bounce back? Are there any upcoming government restrictions? Why is cryptocurrency falling following a sharp surge at the beginning of the year? Do not put your investment in danger right now. Even though it could be challenging, the majority of analysts and professionals think you should hang in there and maintain a close eye on the cryptocurrency market for the moment.


One can survive the current crypto freeze by being calm and taking a long view. Anticipate it to take some time for your investment to completely recover because it takes time for the market rate to rise. In worse scenarios, many spot dealers lose a lot of money, but the consistent ones eventually make some of it, or at times all, of it back. Your ideas and computations can be controlled by practicing remaining calm and managing self-control.

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