Cryptocurrency distress grows! Bitcoin crashed hard

The price of Bitcoin went into free fall late at night on 07.09.2022 and fell from 20 thousand dollars to 18800 dollars. These sharp declines are driving investors out of the market.

After the rise in 2021, the cryptocurrency investor, who entered 2022 with hope, hit a hard rock. When the high inflation that emerged after the pandemic brought interest rate hikes, the FED became the nightmare of the cryptocurrency world. Investors are exiting Bitcoin, which is seen as a risky asset, one by one. With 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. According to data compiled by Coinmarketcap, the global crypto market fell 5.84 percent to $ 934.95 billion. Bitcoin price fell as low as $ 18,559 yesterday morning and is currently trading at $ 18734.60. According to Coinmarketcap data, Bitcoin's market capitalization was $358.5 billion. Even though the coin rebounded from the crash Investors are curious if this trend will continue and also worried about the future of Bitcoin. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!