On Thursday, the world’s largest cryptocurrency, Bitcoin slipped around $25,401 making it the lowest since Dec 2020.
The crypto market has always been wild in the price swings since the beginning. Last week it again fell when the investors yanked their investments from the riskier assets in fear of raising inflation and interest rates.
Ether, the second-largest token dropped more than 15%. Not only the big ones but the small tokens were also hit by this inflation.
Luna, the digital coin has become a widespread matter of concern on social media as it lost almost all of its value.
Several small traders have invested in Cryptocurrencies in hope of getting quick returns without thinking about the high risk these assets possess.
For example, the world’s largest crypto exchange Binance counted around 118 million clients in the last month which was only 43.4 million in the last year.
But the turmoil that took place last week has smashed the investors’ hope, making the online forums regretful.
Crypto’s latest crash has pushed down the market value to $1.2 trillion. This led world’s eighth-largest cryptocurrency Luna crushing down to the lowest. There is no doubt the crypto crash has kicked the investors into an uncertain misery.