Crypto Crashing

[Maniés]

As many of you have seen alredy, the crypto market is suffering a great crash, but why is that? Why are cryptos getting to even lower prices? Are they doing a sale or something like it?

Cryptocurrency markets have crashed to a new low of this year today. The global market cap has shrunk to $1.02 trillion from $1.10 trillion recorded yesterday and almost every top coin is now worth half or even less than their all-time highs. 

The immediate trigger for the cryptocurrency crash appears to be a massive sell-off by investors amid heightened inflation fears. Investors continue to shun riskier assets, which is also reflected in the stock market.

The crypto market has been under pressure from the Federal Reserve, hiking the interest rates to combat inflation over the past few months. Bitcoin, Ethereum, and most cryptocurrencies suffered losses over the weekend after a broad sell-off following the data showing US inflation hitting a 40-year high.

In another blow, in a recent spate of crypto restrictions, China ordered a complete halt to bitcoin mining in its Sichuan province and asked banks to stop supporting crypto transactions.

Now, the country’s central bank, the People’s Bank of China, has effectively banned digital coins after declaring all cryptocurrency transactions illegal. Making an impact on the crypto market!

And that's some of the reasons that the market is down right now, my advice is to buy some of the dip and hold to it for quite a time to make some good profit (I'm not a advisor and im just sharing my opinion, the decision is yours to make).