canva thumbnail

What is going on with the crypto market?


What is going on with the crypto market?

In today's article, I'm going to cover what exactly has been going on with the crypto market over the last week and a half. I'm sure as many of you know it's been a huge roller-coaster ride of price action and emotions over the weeks and a half. That's why I thought it would be super important to cover this topic and to discuss it with you, my readers. I'm also going to cover when we could also expect the market to start picking up. So with that being said let's jump into today's important article.       

Stock market crash

The initial reason for the crash to happen in the first place for the cryptocurrency market was the crashing of the stock market. More specifically the NASDAQ100 had an initial loss of 3.1 percent within the first hour and then lost more within the next couple of days after that. This came as the FED (Federal reserve system) announced interest rate hikes. Leaving may fear that a coming Recession is on its way. Which left many selling their stocks in hopes of getting out before the rest of the market does. Which then led to a chaotic market over the last week. This, in turn, hurt cryptocurrency because as of right now the cryptocurrency market is pegged to the stock market more specifically the NASDAQ100.    NASDAQ%20100.jpg

Terra unpegging

On top of all the stock market chaos, another source of bad news for the cryptocurrency market has been from within itself. The surprise news was the unpegging of terra USD from Terra Luna. This came as people began to sell and dump their Terra Luna at significant rates. Which led to Terra USD losing its value quickly as and on top of that the selling of TUSD also dumped Terra Luna which even brought TUSD down more. Terra Luna which was a top ten coin before this crash has led many to not trust the current state of the crypto market which in effect led to more dumping as Terra Luna lost its value and place in the top ten and eventually top 100 coins.   TUSD%20luna.jpg

When to expect the market to go up

Now before we get any further into this article I just want to state that none of this is financial advice and that they are just my personal predictions of the market. Now since the inflation rate is still at an all-time high and recession fears are still lingering the possibility of the market picking up anytime soon is slim. We most likely won't see crypto start picking up until stocks do or until the Ethereum merge happens. Although as of writing this article (5/15/22) crypto has picked up a little and has been somewhat stable staying within the 29k-31k range. Although I doubt It will stay stable or go up anymore. We will likely see it come down some more possibly to 25k again before it starts to go positive and we see a pump. I'm expecting the market to pick up near the end of summer time possibly around august possibly.  crypto%20btc%20markets.jpg

My Final Words     

If you enjoyed the blog leave a like and share it on social media. Leave me some feedback with your comments to let me know how I did. Let me know what you liked and what you didn't so I can improve the blog. All your likes and comments are deeply appreciated. They motivate me to write more and better blogs and help me expand and help spread the word. Make sure to follow the blog to stay up to date. You can also follow the blog's Instagram where I post daily content as well as letting people know when my new blog post drops and I also give out my crypto trades on there. Then there's also my website where you can put in a submission form to let me know what topics you want me to cover along with other things such as referral codes and affiliate links. Thanks for reading hope you enjoyed it. 

Follow The Blogs Instagram

   

Link To My Website

How do you rate this article?


16

0

Jack216
Jack216

I am a blogger dedicated to writing about passive income and crypto and just making money online in general


Jack's Passive Income and Online Blog
Jack's Passive Income and Online Blog

My blog is dedicated to helping others achieve making passive income and to help those who are lost when it comes to making money online and achieving passive income make sure you follow the blog like and comment and if you found the blog helpful just share it and spread the word please every bit helps and goes a long way anyway socials and other blog pages can be found here https://sites.google.com/view/jackspassiveincomelandingpage/main-page?authuser=2

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.