The fall in prices has become historic; Altcoins lost 30 to 50 percent of their value in one day

Overnight, the turmoil in the digital currency market affected everyone. Bitcoin fell sharply, and altcoins took the lead from bitcoin in the fall.

According to Crypto Petito, the downward trend in digital currency prices continues today, and as a result, the price of bitcoin has fallen to its lowest level in a year and a half. The condition of the penis is worse. We can hardly find a diagram of Quinn’s penis that has not fallen by a two-digit number.

Another annual price minimum has appeared in bitcoin charts

The digital currency market is a strange market. Bitcoin doesn’t seem to have entered the $ 40,000 channel last week with a $ 1,000 price increase in one day. Many analysts saw the event as a positive sign, and supporters of the price increase, or so-called market cows, promised a price increase.

But that didn’t last long, and instead of doubling in price, Bitcoin went straight down, losing $ 4,000 a day. But that was not all, multiple declines appeared in the charts, first the price dropped to $ 33,000, and a few days later reached $ 30,000.

After a slight jump in prices and a return to the level of $ 33,000 on May 10, the price fell below $ 30,000 again, which is unprecedented since July last year. With the announcement of the new inflation rate in the United States, the price briefly reached $ 32,000, but could not maintain its position.

Today, the price first fell to $ 28,000 and fell to $ 25,350. This low rate has not been observed since December 2020. Estimates suggest that this could lead to the liquidation of more than $ 1 billion in assets.

Bitcoin currently costs more than $ 28,000, but a 30% drop in one week means that its market value will be much less than $ 550 billion.

BTCUSD.  Source: TradingView
Bitcoin / Tetra daily chart of market pairs

Double-digit decline in the price of altcoins

Atrium experienced a slight drop than other altcoins, at least until yesterday. The second-largest digital currency has already lost more than 15 percent of its value overnight, falling below $ 2,000.

Read also: They lag behind the fall; Will the fall in the price of UST affect your network?

Bainance Quinn fell 17% to about $ 250, reaching its lowest level in months. Worse, Ripple, Cardano, Dodge Quinn and Polkadat are down 25 percent, Olench is down 27 percent, Solana and Shiba Inu are down 30 percent.

Terra is still the most important loser these days with a 99% price reduction in one day. Currently, Luna, which cost more than $ 90 last week, doesn’t cost more than $ 0.15.

Cryptocurrency market overview.  Source: Quantify Crypto
Review of digital currency prices

The total value of the digital currency market fell below $ 1.2 trillion, which means that the index fell by more than $ 600 billion in one week.

Publication Falling prices have become historic; Altcoins lost 30 to 50% of their price in one day, appearing for the first time in digital currency.

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