Despite all the euphoria about the crypto market, which has been so strong lately, there have always been skeptical voices in the recent past that spoke of an overvaluation of most cryptocurrencies, predicting an imminent crash. Indeed, in a belated response to the Fed’s inflation warning, many cryptos have registered a massive price drop in the past 24 hours, fueling fears of exactly this crash scenario. At the moment, however, there is a strong correction in the crypto market, and not necessarily a full-fledged crash.
As usual with significant price movements in the crypto world, all major and well-known cryptocurrencies were roughly equally affected by this short and brutal price drop. For example, the bitcoin (hardware wallet from 59 euros at Amazon) fell sharply in the course of Friday and fell to a price of around $ 52,000 per bitcoin. In the early morning hours on Saturday, alarm bells apparently rang for many crypto owners when the value of the world’s largest cryptocurrency in free fall fell again 20 percent within an hour and meanwhile dropped to about $ 43,000 per bitcoin.
After a brief rally, the price of a bitcoin is now back around $48,000, still over 30 percent below its all-time high of nearly $68,000 on Nov. 10. In fact, crypto skeptics such as well-known investor Louis Navellier believe that Bitcoin will become even more volatile in response to the Fed’s tighter monetary policy, and that the price could fall by as much as 85 percent to less than $10,000 a year as a result. . Bitcoin. As always, such predictions and forecasts should be treated with great caution.
This article is published for informational purposes only and does not constitute investment advice.
The technology virus caught me at a young age, when I took my first steps in the PC field in the Pentium II era. Since then, modding, overclocking and the meticulous care of my hardware have just been part of it for me. During my studies I also developed a special interest in mobile technologies, which can make the stressful everyday student life a lot easier. Having found my love for creating web content while working in marketing, I now set out to explore the most exciting topics from the fascinating world of technology as an editor at Notebookcheck. Outside the office I have a particular passion for motorsports and mountain biking.