THECRYPTO.WATCH – Today’s Crypto Market, Bad news is now approaching the crypto market (cryptocurrency). Saturday (22/1/2022) saw the movement of all cryptocurrencies in free fall. Like the biggest cryptocurrencies, which are Bitcoin and Ether, have to shrink to USD 150 billion in the crypto market.
This movement could be the impact of several things that are now happening. There is global sentiment, which makes crypto currencies not even bullish. For now, many investors are very worried about the tightening of monetary policy from the US Federal Reserve (The Fed).
In addition, the Russian bank (The Central Bank of the Russian Federation) also prohibits mining and various transactions using cryptocurrencies. Therefore, it is not surprising that today’s crypto market has also been corrected since last Friday.
The Russian central bank has long been unsupportive of crypto developments. They have a reason, because the rapid development of cryptocurrencies could put financial stability and prosperity at risk.
In the past, Russia emphasized that the use of cryptocurrency transactions could be used for money laundering and terrorism financing.
It’s no wonder that today’s crypto price movement managed to break through the closest support level. Judging from the latest update on Coinmarketcap for Saturday afternoon, the movement of Bitcoin (BTC) assets weakened at around $35,554.69. Continuing a decline of 9.23 percent compared to yesterday’s closing (Friday (21/1/22).
Meanwhile, alternative crypto assets such as Ethereum (ETH) $ 2,431.50. A sharp decline of 15.4 percent when it’s compared to yesterday’s closing value.
Correlation of several currencies and other cryptocurrencies followed the two largest assets in the market. Everything looks over bearish and flushed. Meanwhile, at this time many are still feeling anxious about the future of this cryptocurrency.
Because in the end, the decisions of several countries affirmed that they don’t receive some services, actions, and transactions using crypto. It is indeed a dismal start to the year for crypto, after experiencing a significant increase in the previous year.
