XPro Markets – So, what’s happening to crypto?

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Over the past few months, the crypto market has kept traders on the edge of their seats. Unfortunately, it was not the best year for popular cryptocurrencies, as assets like Bitcoin and Ethereum hit record lows. However, what seems to keep traders invested in maintaining their trading positions in the crypto market is that despite the extreme volatility experienced in 2022, the booming crypto market still manages to have a solid presence among traders around the world.

At XPro Markets, we have collected the latest data and most important outstanding movements of the crypto market so far this year, so that you can better understand what is happening to your crypto CFDs and what are the reasons behind this volatility. Keep reading to find out more!

Crypto Market Overview Q2 2022

  • During the second quarter of 2022, Bitcoin drops 56%, its worst performance in a decade.
  • A cumulative change of -$501.8 billion was recorded in crypto market capitalization, falling to $337.5 billion.
  • A record decline of eleven weeks led to a 67.4% decline for Ethereum in Q2. As a result, Ethereum’s cumulative market cap decreased by $265.79 billion, to $128.62 billion.

Currently, cryptocurrencies are holding, trying to stay above average prices. If you consider that in 2021 the price of Bitcoin exceeded 65,000 USD and now it is struggling to maintain its ground above the barrier of 20,000 USD, you can understand how difficult this year has been for this trending crypto.

Top Reasons The Cryptocurrency Market Is Crashing

  1. The effects of inflation: As prices rise across the board, people could be pulling their savings from non-essential investments — which, for many, include cryptocurrencies. Q3 also heightened recession fears, making crypto traders even more skeptical when it comes to investing in such assets.
  2. Russian-Ukrainian War: In times of significant geopolitical uncertainty, people tend to invest in safe, conventional and consistently reliable assets. This has resulted in increased volatility in the cryptocurrency market, removing traders from the challenge of crypto trading.

Will it ever go up again?

If you are a crypto CFD trader, you are probably wondering what you should do in these turbulent times. We have good news and bad news. The bad news is that you can never be 100% sure of what will happen to the markets in the future, like everyone else. economic event may affect your assets.

The good news is that there are ways to be more prepared when things go sideways. In every challenge, it is important for traders to maintain their discipline and not lose faith in their abilities. Therefore, what can keep you one step ahead of the markets? Patience – Practice – Determination.

Save strengthening your business skills and discover ways to improve yours business strategieswhile also staying up-to-date on economic events that could affect your businesses.

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