Is crypto on a downward trend?

The world’s first cryptocurrency has dropped by 18.6\% since reaching a fresh all-time high of over US$69,000 last week. …

Why is Bitcoin dropping?

Some of this year’s drops have been caused by a combination of factors, Noble theorizes, from excitement about low-quality coins, to negative remarks from Elon Musk, to China’s recent crackdown on crypto services. This mix of factors has potential to make sell-offs “all the more violent,” says Noble.

What happened to cryptocurrencies in 2018 and 2021?

This happened to cryptocurrencies in both 2018 and 2021, where a crash in the crypto market resulted in the loss of trillions of dollars. Many smaller coins disappeared during these crashes, while others such as Bitcoin ( BTC) and Ethereum ( ETH) came out fighting and have since recovered.

Does the crypto market still have Upsides?

The heyday of cryptocurrencies may have come and gone, but it’s also possible that the crypto market still has a lot of upsides to go. We do know one thing for sure: cryptocurrencies were once positioned to upend the entire financial system.

Are investors back in the crypto market?

Investor interest, both retail and institutional, in digital currencies has risen dramatically in recent months. Many early investors who were eager to make gains from the “cryptocurrency craze” have since moved on to other ventures, leaving a smaller group of stalwart HODL -ers behind.

When will crypto become a payment method in the US?

In November 2020, PayPal introduced crypto purchases to its U.S. users, and in December crypto was adopted on an institutional level by major players, including MicroStrategy and GreyScale. Then into 2021, Tesla bought $1.5 billion of crypto and made a statement to Tesla vehicle purchases with crypto, and Mastercard began making moves too.