Crypto / Bitcoin Crash 2022 Last Update (Jan 7): This is how the prices of BTC, ETH, SOL, ADA, DOGE, SHIB, HEX, AVAX, BNB are down 7 days.
Cryptocurrency / Bitcoin Crisis 2022: The prices of all major cryptocurrency tokens remain in the red since the beginning of the New Year. The largest cryptocurrency by market cap, Bitcoin, fell to $ 41,270 in the past 24 hours before recovering to $ 42,303 at the time of writing this report, according to data from CoinMarketCap.
Since January 1, 2022, the price of Bitcoin has fallen from close to $ 47,000 to $ 42,303, tarnishing the mood of retail investors. In the past seven days, the price of Bitcoin has plummeted 12.35%. The main crypto token has dropped about 40% from the high of $ 69,000 that it touched on November 10, 2021.
The prices of other major crypto tokens have also dropped in the last seven days.
The price of the second most popular token, Ethereum (ETH), has fallen 14.5% in the last 7 days. The price of ETH at the time of writing this report was $ 3,236, down 3.78% in the last 24 hours.
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Binance Coin (BNB), which is ranked fourth by market capitalization, is down 13.22% in seven days. A 20.48% drop has been seen in the price of Solana (SOL), the fifth largest crypto token by market capitalization.
Among the top 15 currencies, the price of Terra (LUNA) has fallen by 19.86%; Polkadot (DOT) at 8.10% and HEX at 24.70%. The price of Avalance Coin (AVAX) has fallen 15.31% in the last seven days.
The prices of last year's most popular meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), also fell 10.15% and 13.93% in the past seven days. Both coins enjoy the 13th and 14th position respectively in terms of market capitalization.
The continuing drop in the prices of popular crypto tokens has left retail investors concerned. However, this is not the first time that such a price drop has been witnessed in the cryptocurrency market. The experts have given some of these reasons behind the current drop in prices of popular crypto tokens.
(Cryptocurrency markets are very volatile. They are also unregulated assets for investment in India. Investing in cryptocurrencies could lead to losses. Therefore, investors should do their due diligence and consult their financial advisers before investing in cryptocurrencies. ).
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