It’s been a long time since the crypto markets hit so brutally! Wherever you look: All the coins are falling, many of them in the high percentage range of digital! Investor sentiment has hit a new low, as have the prices of many assets. What’s next for Bitcoin, Ethereum and most Altcoins, what should one do?
Accident encrypted by Terra (LUNA)
Bitcoin and Co. in the cheap fall! Looking at the portfolio is likely to surprise many crypto investors this morning: A huge correction has escalated in recent days overnight, sales are accelerating!
Whether Bitcoin, Ethereum, Altcoins or Coin Meme: everything crashes. With UST Terras there is even a stable base among them: he lost his dollar pin, falling to $ 0.33 yesterday. Meanwhile, UST has recovered 80% and is now trading at $ 0.59. However, analysts expect a drop to $ 0.
Terra (LUNA)’s case is also unsurpassed: the former top 10 cryptocurrency traded well over $ 80 last week, but in the meantime it had to but lost 99% and is now only $ 0.19 (!).
There is still speculation as to whether a targeted attack triggered the epic crash. In any case, the founder of Terra Do Kwon is already an opponent, writes to over 590,000 Twitter followers:
“Terra has always focused on a long – term period of time and another recession in May, like last year, will not deter LUNAtics. Short-term obstacle blocks do not define what can be achieved. ”
Focus 14 / Terra has always focused on a long – term horizon, and another recession in May, like last year, will not stop the #LUNAtics. Short-term stumbles do not define what you can accomplish.
What matters is how you respond.
– Dean Kwon 🌕 (@stablekwon) May 11, 2022
However, the crypto community is less optimistic. Many of them wonder about the dramatic impact that one coin can have It may seem that the crypto markets are wide.
Bitcoin, for example, has declined 8.31% over the past 24 hours, trading for weekly losses up nearly 30% at $ 28,122 currently. Ethereum also had to lose a lot of feathers, trading at $ 1,908 after minus 16.22% from yesterday.
Overall, the crypto market cap has lost a whopping 12.95% in one day, coming in at $ 1.18 trillion. What’s next for Bitcoin and Co.?
Top analyst comments CRYPTO₿IRB: Bitcoin is a must reclaiming the $ 28,800 area on a weekly basis – only then does the base come out of the woods. Failure to do so may result in further losses. BTC could be the case withdraw up to $ 24,000.
Kryptoszene.de Tip: DeFi DeFi Coin (DEFC) new project
Amid the crypto crash, the DeFi DeFi Coin (DEFC) project performed strongly. That could jump from under $ 0.1 to as high as $ 0.56 in a few days – an increase of more than 460 percent. The reason for the strong increase in DEFC / USD: the related decentralized exchange DeFi Swap, known as DEX (decentralized exchange) was launched. It was actually planned for 2021, but had to be pushed back due to delays. That put the price of DEFC under pressure. In the meantime, however, the DEX could be started – and eventually that also put pressure on the DEFC course. Now, for the first time, users can try out attractive features like earning, farming or betting.