continued Cryptocurrencies, its sharp losses led by Bitcoin, Ether, Solana, in addition to the so-called meme currencies, causing the market to lose more than $400 billion of its value in two days.
The price of Bitcoin fell more than 4% yesterday, after losses of more than 10% on Friday, bringing its total losses in three days to 22%.
This also exacerbates Bitcoin’s losses since the highest peak recorded on November 10, to more than 50%.
Many market dealers believe that there is no longer room to hide, as all risky asset classes are strongly vulnerable to correction, as several factors have played a role in the past few days in the decline of cryptocurrencies, including the upcoming US Federal Reserve policy of quantitative easing, and a warning from Russia to ban currency trading and mining. encrypted file, in addition to geopolitical reasons related to the Ukrainian file.
Accordingly, the market value of cryptocurrencies lost 1.4 trillion dollars of its market value within two months, after it touched the level of 3 trillion dollars, bringing its market value until yesterday, Saturday, about 1.6 trillion dollars, according to CoinMarketCap.
In the last 24 hours until 2:30 PM Dubai time, the cryptocurrency rebounded again, and the rudder turned to the upside again.
The Chiba Inu currency rose by 26% to compensate for part of its huge losses, as it is still down by more than 24.7% during the last week.
Bitcoin and Ether rose by 0.1% and 3%, respectively, to the level of $35,800 and $2526.