Over recent months, the world’s first and top cryptocurrency, Bitcoin (BTC) is facing its hard time resulting in a massive price fall. The BTC crash will affect the entire global crypto market reflecting a red signal. Under a clear observation, the price of BTC is continuing to plunge performing a wavy price momentum. At present, Bitcoin is trading around $18,000 falling even more down from the last 24 hours.
Further, the crash of Bitcoin will create a great impact as it is one the prominent pioneers in the crypto space. Despite the downfall of the crypto market, BTC holders are expecting positive signs without losing hopes. Even though Bitcoin is witnessing a tremendous fall and fluctuations, it is still being adopted by many countries and users. As the bearish trend persists, users expect for the beginning of the second turn of cryptocrash again in the market.
BTC Crash – What’s Next ?
Some crypto analysts are predicting that BTC will not fade away and it is going to give a strong comeback to the market. It might trade at low with a massive price fall, but Bitcoin is expected to reach above $30,000 soon.
As a coin has two faces, there are only two ways in which the crypto market can survive. One, if this same price fall for BTC continues, the market will surely witness a deep decline in all its value, even crashing the whole industry.
Secondly, if it surges raising its head high, then the market can be saved. And yes, it will give a chance to explore the world of digital currencies in the near future. Now, the BTC crash is not only affecting the performance of the individual currency, it is and it will create a large impact globally.
Significantly, the fall of BTC affected its market capitalization as well. Bitcoin Market Cap is at a current level of 358.81 billion, down from 365.41 billion over last day. According to CoinMarketCap, the price of BTC is standing at $18,719.19 with a 24-hour trading volume of $54,732,851,043. Additionally, marking the dump of the price, the digital asset is down 7.08% in the last 24 hours.
Eventually 2022, did not turn up for Bitcoin, but the entire global crypto market awaits for the next new year. And BTC will re-enter a strong remarkable surge in its price pattern very soon.
Source: https://thenewscrypto.com/bitcoin-crash-whats-next-for-crypto-space-%EF%BF%BC/