What to Expect After BTC Crash?
The last few months have been incredibly hard for the world’s first and top cryptocurrency, Bitcoin (BTC). It has witnessed a massive crash. What does this mean for the entire global crypto market that is trading in the red?
The price of BTC has continued to plunge and is showing a wavy price momentum. Currently, Bitcoin is trading at around $18,000, dropping lower in the last 24 hours.
Bitcoin crash will also create a great impact as it is among the prominent pioneers in the crypto space. The crypto market downfall has not deterred BTC holders from hoping for positive signs. Despite Bitcoin’s tremendous fall and fluctuations, investors are still adopting it throughout the world. With the bearish trend still in action, users are expecting the beginning of the second turn of crypto cash again in the market.
What will follow the BTC Crash?
Some crypto analysts anticipate BTC to stay strong and give a stronger comeback to the market. While it might trade at a low with a massive crash, Bitcoin is expected to reach $30,000 soon.
There are two ways things can turn out for the market to survive:
One is if the same price fall continues for BTC, the market will surely plummet in value, crashing the whole industry.
And the second is that if it surges, the market will be safe, giving a chance to channel the power of digital currencies in the near future.
The BTC crash does not affect Bitcoin alone; its ripple effect is seen globally.
The BTC crash affected its market capitalization as well. Bitcoin Market Cap is currently at 358.81 billion, down from 365.41 billion in the last 24 hours. The price of BTC is currently at $18,719.19, with a 24-hour trading volume of $54,732,851,043. Moreover, the dump of the price is marked by a decline of 7.08% in the last 24 hours.
Eventually, 2022 did not turn out to be fruitful for Bitcoin, but the global crypto market is excited about the next new year. BTC is also expected to make a strong, remarkable comeback in its price pattern soon.