Bainance CEO reacts to the decline of the cryptocurrency market on Twitter

Bainance CEO reacts to the decline of the cryptocurrency market on Twitter

 

    Changpeng Zhao tweeted about the latest cryptocurrency market downturn.
    100 Ramzars experienced a 10 to 20% market downtrend.
    The top 3 currencies, Bitcoin, Atrium and Bainance, continue to hold this position.

 

Bainance CEO Zhao tweeted about the decline in the cryptocurrency market. Zhao also added that his remarks in this tweet were not financial advice. Traders and investors must take the necessary precautions to avoid unexpected irreparable losses.

In the last few hours, the cryptocurrency market has shocked investors once again. Not because of the uptrend but because of its sudden decline. In particular, CoinGecko's top 100 cryptocurrencies fell 10 to 20 percent in the past hour. In fact, it could cause fear, uncertainty (FUD) among cryptocurrency investors worldwide.

Based on market conditions, the world of cryptocurrencies has approximately $ 2 trillion in market capitalization. It is noteworthy that the space of cryptocurrencies has stood strong and does not come down easily with the sudden fall of the market. That way, traders and investors should not lose confidence when the market plummets. This has become commonplace in cryptocurrencies.

Today, Bitcoin, the king of cryptocurrencies, tops the list with more than $ 56,000. In addition, Atrium traded at more than $ 2,200 and the Binance cryptocurrency traded at $ 473 per cryptocurrency. Despite the decline in the cryptocurrency market, these top three groups remain strong. Indeed, this is a prominent performance in the space of cryptocurrencies.

An overview of the cryptocurrency market Wednesday, March 3

An overview of the cryptocurrency market Wednesday, March 3

Following a sharp drop that pushed the price of Bitcoin to $ 47,000, the currency traded back at $ 50,000. The Altcoins market is also mostly green today.

Bitcoin crossed the $ 50,000 resistance

After a sharp drop last week that brought Bitcoin below $ 43,000, the currency is slowly showing positive reactions as a new path opens up for the cows.

As reported yesterday, Bitcoin even broke the $ 50,000 level for a short time but could not maintain its momentum. The rejection of the price caused the currency to fall again and fall to the level of $ 47,000 (in Bitstamp).

Since then, Bitcoin has returned to this level once again, rising by about $ 3,000 to about $ 50,000. At the time of writing, Bitcoin is trading at $ 51477.

Technical indicators of the currency show that this particular price level is the first major resistance line in the uptrend of Bitcoin, so that BTC can cross the resistance levels of $ 52,500 and $ 55,000 after crossing this level.

If the price is rejected again, the support levels of $ 47,200, $ 46,600 and $ 44,750 can help.

Atrium reached $ 1,600

Most altcoins also saw unfavorable price movements last week, but were revisited in the last few days. Atrium, which has fallen to $ 1,300, has jumped nearly $ 300 since then and is now close to $ 1,600.

Cardano's 2% increase helped ADA remain third in the market value of digital assets. BinanceQueen (1%) and Ripple (2.5%) are also green in 24-hour timeframes. China Link has increased its value by 6% since yesterday and is currently priced above $ 30. The Polkadat also jumped 6.5 percent to trade at $ 38.

Nevertheless, Light Coin showed the most significant growth among the top ten currencies with a 12% increase. As a result, LTC is approaching the $ 200 mark.

Among the low and medium market value altcoins, the Energy Web Token had the best performance with 32% growth and reaching the $ 18 level. Ocean Protocol (22%), NEM (19%), Basic Attention Token (19%), Enjin Coin (18%), Phantom (13%), Decentraland (12%) and Ontology (11%) are next. they take.

Finally, the total cryptocurrency market capitalization remains above $ 1.5 trillion.

An overview of the cryptocurrency market today Sunday, February 28

An overview of the cryptocurrency market today Sunday, February 28

After a relatively positive day, Bitcoin fell again below $ 44,000 to its lowest price since February 10, 2021. The situation in the Altcoin space worsened with double-digit declines. The crypto market value fell another $ 120 billion to $ 1.350 trillion.

Bitcoin falls below $ 44,000

The market's top cryptocurrency showed little signs of improvement in yesterday's trading session as it rose to around $ 4,000. However, this positive performance did not last long, as the bears regained their full strength.

At the Bitstamp exchange, in the following hours, the price of bitcoin began to fall, leading to a drop to $ 43,782. At the time of writing, Bitcoin has jumped slightly to around $ 42,500.

As a result of these developments, the market value of BTC continues to fall. The cryptocurrency lost more than $ 200 billion last week, from about $ 1.05 trillion to $ 830 billion.

CryptoQuant data show that the recent drop in prices can be attributed to miners who have made a profit after several months of price increases. Just before the first dump, from $ 58,000 to $ 45,000, and more recently from $ 50,000 to under $ 45,000, the company has been following the massive outflow of funds from miners' wallets to exchange offices.

Blood bath among altcoins

As we usually see at the same time as the BTC price falls, the bad situation in the Altcoins market is more tangible. Atrium fell 10 percent to below $ 1,350 and has taken the lead in this unfavorable trend. Cardano (ADA), which recently showed its best performance, fell more than 12% to $ 1.2. Binary Coin (-10%) up to $ 210, Polkadat (-9%) up to $ 31, Ripple (-6.5%) up to $ 0.41, Light Coin (-10%) up to $ 160 and Bitcoin Cash (-9%) Dropped to $ 450.

Among the lower market value altcoins, PancakeSwap has reached $ 9 with a 25% price reduction. After that, Polygon (-20%), Ravencoin (-20%), Enjin Coin (-20%), Huobi Token (-19%), 1inch (-18%), IOST (-18%), Pundi X (-17%), Holo (-15%) and NEAR Protocol (-15%) are examples of currencies that have seen the most price declines since yesterday.

Finally, the total market value of cryptocurrencies fell by $ 120 billion in one day to $ 1.350 trillion.

An overview of the cryptocurrency market today Tuesday, February 23

An overview of the cryptocurrency market today Tuesday, February 23

In the last 24 hours, we have once again witnessed the emergence of a very unstable nature of the crypto market. Bitcoin has pioneered this trend with a significant drop of $ 11,000. Most of the alternative coins also went downhill, eventually losing more than $ 260 billion in cryptocurrency.

Bitcoin falls again to 50 thousand dollars

A popular saying in the cryptocurrency market is "this market is never stagnant or boring." Now, in the last 24 hours, the term has become more prominent, but this time with a negative aspect. Bitcoin had recently reached its highest price at $ 58,400, and although everything seemed quite bullish for this asset, the situation changed completely within a few hours.

BTC lost about $ 11,000 in 24-hour timeframes, reaching a daily low of $ 47,500. Shortly after the massive decline, the cows took control of the market, bringing the cryptocurrency to $ 55,000.

However, Bitcoin failed to sustain this improvement and once again fell below $ 50,000. At the time of writing, the market's top cryptocurrency is being reconsidered and is currently trading at $ 47,920.

Finally, the bitcoin market capitalization fell by more than $ 100 billion in one day, reaching below $ 1 trillion.

Sea of ​​Blood in the Altcoins Market

As in the past, the price correction trend in the Altcoin market is more intense than in Bitcoin. Atrium dropped more than 15 percent in 24-hour timeframe to $ 1,600. Due to the fact that the price of this leading currency was more than $ 2040 in just a few days, following this fall, Ether (ETH) has lost more than $ 400 in a few days.

Bainance Quinn, which recently hit a new record at around $ 350, also fell to $ 235. Polkadot (-8%), Cardano (-5%), Ripple (-12%), Litecoin (-15%), Chainlink (-17%) are all red today.

The highest price drop today in Altoquins such as Dodo (-25%), Elrond (-24%), Siacoin (-23%), IOST (-23%), 1inch (-23%), Ontology (-22%) , Aave (-20%), Curve Dao Token (-20%), Waves (-20%), and BitTorrent (-20%).

As a result of recent price movements in the crypto market, the total value of the crypto market has fallen by more than $ 260 billion to $ 1.5 trillion.