Digital Currency aka Cryptocurrency markets yet again crashed today to a new low this year. The global market cap shrinking from $1.10 trillion to $1.02 trillion had stirred the crypto holders badly. The global fall of one trillion in the crypto market indicates that almost every top coin is now worth half or even less than their all-time highs.
Here’s why the market is down
The apparent reason behind the mega fall of this crash could be the massive sell-off by investors amid heightened inflation fears.
Russia Ukraine Conflict
The ongoing conflict between Russia and Ukraine had pushed inflation to an all-time high, and thus investors now are avoiding holding risky assets, thus affecting the stock markets as well.
Downfall in the Economy of the Superpower-
The USA, witnessing all-time high inflation over the past 40 years is now standing on the verge of depression. It must be noteworthy that the USA is one of the largest markets for cryptocurrency, and thus, such a downfall had pushed the crypto market into a pit.
Srilanka Crisis-
Economic crisis in Srilanka has added yet another tension to the global chart. The crypto market, which itself was a bit inconsistent in nature is now falling down the aisle due to the global imbalance across the world.
What’s next?
Since the crypto world is still new to commoners, thus, it continues to behold such plunges. However, since the American market is observing a record downfall this time, that’s the reason why the market had become the talk of the town. Had all countries made some clear rules and regulations regarding cryptocurrency, it might be possible that the market would be in a much better situation and control.
