Cryptocurrency Markets continue their sharp downtrends. Central banks, which wanted to overcome the inflation problem in global economies, tried to maintain control by increasing interest rates, but they have not been successful yet. While the increase in interest rates did not lead the citizens to save, the increase in energy prices due to the Russia-Ukraine war naturally increased the prices of many products.
ENERGY PRICES DISTURBING THE BALANCES
Natural gas flow to Europe was cut off, and recommendations and rules for saving electricity for EU citizens began to be introduced. EU citizens, who will have a hard time in the winter months, are also losing big from their budgets due to the increasing inflation rates. Europe the central bank Although the interest rate increases, inflation cannot be prevented because the income of the citizens is barely sufficient for the expenses.
NO FREE MONEY LEFT
coronavirus Countries that have distributed free money to their citizens during the pandemic are now trying to prevent the inflation created by the money they distribute.
CRYPTO COINS ARE NEGATIVE
Cryptocurrencies have been maintaining their negative course for a long time due to factors such as interest rate hikes, high inflation, and the Russia-Ukraine war. Although it is known how other investment tools react in situations such as war and inflation, this situation is still new for crypto assets. Witnessing the Russia-Ukraine war for the first time, cryptocurrencies are in staggering decline.
Interest in crypto assets is declining as investments decrease due to inflation around the world. Those who will invest are also turning to the term deposit side, which is seen as a guaranteed income.
AWAY FROM HISTORICAL HIGHESTS
HEAVY LOSS IN BITCOIN
Leading cryptocurrency Bitcoin is showing sharp bearish movements. Bitcoin, which has not earned its investors for a long time, is trading at $ 18750 with a decrease of 5 percent today. Bitcoin hit $69,000 last November. Thus, it is trading 73% behind its historical peak.
ETHEREUM PLAYING LOSSES
Ethereum, the second most preferred cryptocurrency, also cannot get out of the downtrend. Ethereum is finding buyers at $ 1513, losing 8%. It is trading 70 percent behind Ethereum, which fell from its historic high of $4865 to $1500 last November.
VOLUME BELOW $1 TRILLION
Global volume in cryptocurrencies has dropped below $1 trillion. According to data from Coinmarketcap, the volume in cryptocurrencies amounted to $ 937.2 billion.
BE CAREFUL WHEN INVESTING CRYPTO
Since there is no margin gap in cryptocurrencies, the money can be folded in an instant, and it can fall to zero in an instant. In order to prevent this, it is necessary to continue the transactions with orders and to determine the stop points at reasonable levels. In order not to face big losses, it is seen as the right step to minimize the loss by placing an order in advance.
The comments of people on social media and video broadcasting sites should not be believed, and the advice of those who introduce themselves as experts should not be followed. There is currently no rule brought by any state authority regarding the crypto money markets. There are also no expert licenses issued by the state authority for cryptocurrencies. For this reason, it is important not to take into account the advice of people who give advice to buy and sell in order to put their own interests forward.