This Is Why Cryptocurrency Is Crashing Today!
Cryptocurrency is crashing. We have so many dark clouds, seemingly all coming out at the same time over cryptocurrency.
What is happening with the market?
What is causing this sell off when there is a lot to do with the inflation that fear Russia war, so many other outlying aspects that are continuously having this dark cloud effect over cryptocurrency.
Overall market sitting at a 1.9 trillion dollar valuation, a sea of red inside of the cryptocurrency market as the overall market is down 4%, with Bitcoin sitting at $40.600 down 7.77%.
And as we scroll through the top 10, we are seeing that sea of red continue because as we have seen, Bitcoin is still in the market. And what we are also seeing is Dogecoin, down 6%, coming in at 13.98 and an 18.5 billion dollar valuation.
What is causing this cryptocurrency crash?
There’s a lot of outer perspective. There is a lot on a macro landscape. We have a lot to digest. This is not just happening inside of cryptocurrency, it is happening on a macro landscape. The traditional markets are being absolutely crammed as well.
Dow has its worst day of the year, falling 622 amid the Russia and Ukraine invasion fears
Russia and Ukraine has been a story on the headlines every single day this week. This is obviously having an effect to the negative side on cryptocurrency and the traditional markets. As nobody wants to see war, it causes a lot of fear. It causes people to want to pull their money out and want to see what happens next.
Inflation is out of control. It’s time for the Fed to raise interest rates
The economy cannot withstand higher interest rates and stopping quantitative easing as a market is being propped up by these two subjects. And if we take these subjects out, this propped up market, this bubble of sorts will go pop and we will go into a borderline recession.
And what are we setting up for Dogecoin?
As long as Bitcoin continues to do this boring price action, we can’t really be excited about Dogecoin on the smaller time frames. However, when Bitcoin and the overall market does get back to continuing the uptrend and starting to see more bullish action, Dogecoin is going to shock the world once again. Doubt will be punished.