“Prime coin” sold out, Bitcoin pulled the market down, Ethereum hit a red alert

Many people’s virtual currency dreams are about to be shattered.

As noted by us, in the past 24 hours, a Bitcoin sell-off is taking place simultaneously across the world’s Crypto exchanges. Before the extremely bad news from China, the sell-off of Bitcoin and the run out of the market is taking place massively.

Bitcoin has lost almost 20% of its value in 1 week

According to data from Coinmarketcap, Bitcoin has lost 5.26% of its value in today’s session. Currently stopping at around $ 32,000 for a BTC. Overall over the past week, the Crypto king has lost 19.69% of its value. This can be considered as one of the most severe weeks of Bitcoin decline in 2021.

What is more worrying is that when the value of Bitcoin drops, the trading volume of this Crypto coin spikes. In the past 24 hours, Coinmarketcap has reported that there have been nearly 49 billion USD of transactions in the Bitcoin market alone (up 41.32% compared to yesterday). This clearly shows that the current selling force is very strong and shows no sign of stopping.

Naturally, the plunge of Bitcoin led to the red color on crypto exchanges. Most of the major cryptocurrencies are red. As for Ethereum, this cryptocurrency has lost up to 22.75% of its value in the past 7 days. With trading around $1,900/1 ETH, Ethereum is almost back to where it started at the start of this year’s bull run.

Almost every Cryptocurrency goes down in price with Bitcoin

According to forecasts, Bitcoin’s decline will continue for the next several weeks. With the appearance of many adverse news as well as large investors gradually withdrawing capital from the market to invest in many other areas after COVID-19, it seems that the “Crypto winter” has begun. Not except the possibility that Bitcoin will fall below the level of $ 15,000 in the near future. And that happens, other small Crypto coins like Ethereum, Binance Coin, Cardano or XRP will plunge exactly like the end of the 2017-2018 bull run.

The nightmare of 2017-2018 is still not forgotten for many people

In the past, many people must not have forgotten that Cardano (ADA) once dropped from $ 1.1 to $ 0.03 after only 10 months (divided nearly 37 times). If Bitcoin repeats its crash cycle in 2021, a similar dark scenario awaits small cryptocurrencies in the near future.

Follow: Game News Page