HomeCURRENT AFFAIRSCrypto Market Talk Says We Can't Return Your Money Right Now

Crypto Market Talk Says We Can’t Return Your Money Right Now

There is a steady decline in Cryptocurrency. Many other Cryptocurrency, including bitcoin, are falling continuously. Bitcoin has gone below 20 thousand dollars. This is the first time after the year 2020 that the currency has reached this value after a record fall.

Bitcoin is the largest cryptocurrency in the world. According to a report by CoinDesk, it has seen a decline of 9 percent. This has reduced its value to less than $19,000. The currency at this value was last in November 2020.

The high value of bitcoin went up to $69,000. However, now the cryptocurrency continues to decline steadily. Till now the value of the currency has come down by 70 percent. There has also been a huge drop in the price of Ethereum.

Ethereum, the second most popular currency, is falling continuously. The cryptocurrency industry is going through a lot of turmoil right now. Investors are continuously selling off risky assets. Cryptocurrency platform Celsius Network said this month that it is stopping all withdrawals and transfers.

The platform has around 1.7 million customers. In such a situation, a big question was raised, when will these customers get access to it. However, many crypto experts believe that the condition of the industry may remain the same till this year. There may be improvement in this from next year.

According to experts, there are wars and many other factors due to which the condition of the industry is bad. But, improvement can be seen in this from the second quarter of the year 2023. But, at the moment the condition of the crypto market is very bad.

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