Bitcoin price went into free fall late at night and dropped from $20,000 to $18800. The sharp declines are driving the investors away from the market.
The crypto money investor, who entered 2022 with hope after the rise in 2021, has almost hit a hard rock. When the high inflation that emerged after the pandemic brought with it interest increases, the FED became a nightmare for the crypto money world. Investors are leaving Bitcoin, which is seen as a risky asset, one by one.
VALUE DECLINED BELOW $1 TRILLION
With the effect of the Bitcoin price testing the lowest levels of the year, the total size of the cryptocurrency market fell below the level of 1 trillion dollars.
The global crypto market fell 5.84 percent to $934.95 billion, according to data compiled by Coinmarketcap.
Bitcoin price dropped as low as $18,559 this morning and is currently trading at $18734.60.
Bitcoin’s market cap is currently $358.5 billion, according to Coinmarketcap data. Ethereum’s market value is at $ 184.47 billion.