Unlike in the past, the cryptocurrency market does move according to the global financial situation and the exact reason why the market is going down rapidly is because of the fear of recession is looming upon is and in situations like these, investors would bail out and look for much safer investment like gold and the raising of the interest rate is another factor for the fall.
At this time, the crypto movement factor is not too far away, as well as the global financial situation will determine the market will go down or just collapse, the dollar and gold are still the main sources in determining crypto movements, negative and positive reactions really depend on how the dollar and gold react, although in general crypto is not tied completely to anything, but this role is still the same to whatever will happen in the future, recession and inflation can affect fiat currency or crypto as a whole
Even though it didn't move too far, in recent days bitcoin's decline was felt.
I don't know what else is happening behind the current decline in the price of bitcoin, even though last week the price of bitcoin has started to improve.
Many factors that affect bitcoin corrected again, market conditions have not fully recovered for the next few months, continue to do basic analysis to avoid losing money when investing anywhere, so the decline in the price of bitcoin is starting to get used to the same thing, especially for cryptocurrencies, many coins automatically general has been corrected without exception
Bitcoin is the main trend setter which whenever its price do decline then all of coins in the market would do the same even though there are some who do go into the opposite way
but still in overall market trend will really be still on bearish mode.Speaking about precise reasons on why this market had plummet down then no one could really tell on whats behind.
Whether it is about the war,inflation and other fuds in the market which we couldnt really tell at all. Instead on making yourself freaking out on this dips then
its more better if you do consider on buying back on cheaper coins we do have in the market.
All the reasons for the decline in the price of bitcoin are reactions, be it war, inflation and the influence of the world economy, this cannot be avoided, because all processes that apply are not without cause, everyone has their own method of investing, whether it is directly related with bitcoin and other potential coins, today we can invest simultaneously between bitcoin and other potential coins, because the use of purchases at low prices can be used if there is a strengthening