Crypto Currency market crashes down, making the worst nightmare of investors comes true!
Crypto Currency market crashed on May 12, 2022. All the major crypto currencies in the market saw their value getting diminished in the span of few minutes. The investors around the world, are facing heavy losses for their investment. Depression, anxiety and all the mental evils have taken over the investors and the market appear to be in a bad state as on today! The crypto currency market has had an influencing factor in controlling an economy and the countries dealing in crypto currency are in a state of panic.
What are the actual reasons for the Crypto Market to crash?
There are many reasons for the burn of crypto market and one of them is the Ukrainian invasion by Russia. As Russia tries to capture Ukraine, the rise in prices (inflation) interest rate hikes and geopolitical instability increased and played an important factor in causing the downward trend. The bitcoin (BTC) one of the most valued and popular crypto currency dropped to a 90-day low time low at $ 26,350 which occupies 44% of the crypto market. As crypto market crashed, it is believed that around $200 Billion just vanished into air from the crypto market. From the above, it is quite certain that the investors in crypto are in the worst phase of their market trade.
What happened to Luna? Why is it so important in the crypto market?
To find out let’s read a tweet from one of the investors.
So last year I went to see a therapist to tell her that I had lost purpose in my life. I had no joy in anything. Before, everything was just money money money, and I didn’t know what was the reason I did anything anymore.
— KSICRYPTO (@ksicrypto) May 12, 2022
In the above tweet, a famous gamer and content creator on YouTube, KSI claims that he lost $2.8 million after the latest crypto market crash. He stated that the crypto currencies value first dropped to $50,000 and then to $1000 which equals to almost 99% of burn. Though, he tweeted positively that he has other factors that influence his life strongly and he is in a good space, it is really a sad and sorrowful event in the life of KSI and many other such investors, who experienced the crash and saw their money vanish in the thin air.
As the prices of UST crashed, large Luna Holders came out, causing an inflation for Luna tokens and its price to crash. Hence, Luna saw a 99% lost in the value of its currency.
According to Bloomberg, “Luna’s sharp value decline looked like the worst day for a financial product ever seen and it prompted crypto currency exchanges to delist the coin, bringing its trade to a halt as there was no liquidity in the market.”
Writer’s point of view over the crypto crash.
An epic incident like the crypto crash marks the lowest down of the crypto market. Though the crypto market has crashed extensively, it can be assumed that there is no more place for the market to go down and the market will only possibly see an upward trend. According to this analysis, this would be an appropriate time to invest in crypto market.