Today i.e. on Wednesday, there has been a sudden big decline in the global crypto currency market. The prices of almost all the major cryptocurrencies in the market have declined. Top coins like Bitcoin, Ethereum, Cardano, Dogecoin and Solana have declined by more than 3%. This has brought down the total capitalization of the global crypto market by more than 4% to $2.73 trillion (about Rs 2.27 crore crore).
Table of Contents
- Sharp Fall in Major Cryptocurrencies
- Key Reasons Behind the Decline
- Crypto Market Capitalization Update
- Token-wise Price Drop Details
- Positive News Amidst the Chaos
- Expert Opinions: Temporary Dip or Trend Shift?
- Investor Guidance: What Should You Do Now?
- Conclusion: Should Investors Worry?
Main reasons for decline:
Profit Taking:
The crypto market had seen a good rise in the last few weeks. After this rise, many big and small investors started taking profits. This large amount of selling pressure brought a wave of recession in the market.
Fear of economic recession:
Concerns about economic recession are increasing in America and Europe. Investors are shying away from risky assets. Crypto is still seen as a volatile investment, so its sales have increased in an uncertain environment.
Large-scale Bitcoin sales:
According to crypto analyst Ali Martinez, more than 29,000 bitcoins have been withdrawn and sold from large wallets since April 9. This trend is further accelerating the decline in the market. It also indicates that “whales” (big investors) have also become cautious.
Regulatory concerns:
New rules and laws related to crypto are likely to come in the US and other countries in the coming weeks. Investors are unsure about where these rules will take the market. This uncertainty has further weakened the market.
Some relief news too:
At a time when the market is struggling with the decline, some positive signs have also been seen. According to reports, a company called ProShares is planning to launch an XRP ETF soon. This ETF may launch on April 30, which may breathe new life into the XRP token.
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Which tokens fell by how much:
Cryptocurrency | Fall | Current Price (Estimated) |
Bitcoin (BTC) | -3.5% | $63,000 |
Ethereum (ETH) | -4.2 % | $3,000 |
Solana (SOL) | -5% | $140 |
Dogecoin (DOGE) | -3% | $0.18 |
Cardano (ADA) | -4.5% | $0.58 |
(Note: Prices are estimated and may change over time)
Experts’ Opinion:
Crypto experts believe that this decline may be temporary. The market may stabilize after profit booking, provided economic indicators remain stable and there is no impact of any major negative news. At the same time, some experts believe that further decline can also be seen in the coming weeks.
Conclusion:
The current decline in the crypto market is mainly due to profit booking, fear of economic recession, large-scale bitcoin sales and regulatory uncertainties. However, some positive signs like the announcement of XRP ETF are expected to ensure that this decline will not be permanent.
Advice for investors:
Investors are advised not to take hasty decisions, watch the market movements carefully and proceed with a long-term strategy.
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