Crypto Market is facing a Dip!

The crypto market is facing a lot of chaos, which resulted in a price drop of many cryptocurrencies and digital assets

• Various markets around the world are facing a notable dip 
• After the announcements, Interest Rates hiking by FED might be resulting in crypto market as well as stock market price drops
• From the internet shutting down in Kazakhstan to electricity shortage in Eurasia, Kosovo could be one out of many reasons

 Most markets in the world face a low in their prices, reasons undisclosed yet. Be it the Crypto market or stocks, both are seeing the dips. The value of companies listed in Stock market companies and cryptocurrencies and crypto-assets in Crypto markets is down. ‘When the market goes down on de-escalation, there comes a lot of rumors and speculations,’ humor intended. 

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Although almost every market has seen the dip, it is comparably more the crypto market. Yes, here you can blame its volatile nature, of course, but wait, maybe there is more than that you need to consider. Many reasons could be there, and either one of them or their collective impact is reflected on the crypto market.

The FED in the US has announced to increase their interest rate from mid-march. Hiking in interest rates can be seen as a valid reason because of the simple fact that for retail investors or small investors, the priority would be to pay his interests first and then go towards investing as it’s considered to be a fantasy, not as a necessity. 

Drop-in prices of the crypto market soon after the announcement can be easily considered its consequence. Just see the price drop of BTC, which was approx 8% in just 24 hours. Not just BTC, other crypto asses in the cryptocurrency market like Ethereum (ETH) down by 11.7%, Solana (SOL) by 12.5%, Terra (LUNA) 12.4%, and many more have also experienced the same kind of bumps. Even the overall Crypto market went down by 8.84%, currently at a $2.03 Trillion global market cap. 

Many sources are also considering other happenings worldwide as reasons for this price dropping in Crypto Market. The world’s second-largest bitcoin mining rate after the US is in Kazakhstan. Currently, issues going on in Kazakhstan have already resulted in protests, even the resignation of the Prime Minister. All this outrage also happened in halting internet services which ultimately stopped Bitcoin mining service. It can also be a reason for the dip in crypto assets prices. Although if it’s a Bitcoin Mining region, it would affect only Bitcoin but here, the whole Crypto Market being affected, this creates doubt about this being a reason for price down. 

Other than that, there are also some reasons like shutting down Bitcoin mining rigs by the government of Eurasia to recover from the electricity they are facing, and it’s not a hidden fact how much energy bitcoin mining consumes. Still, nothing can be said clearly at this point. Many things are to be clarified so that assumptions can be the facts and actual reasons behind the market’s dips.