Crypto Asset Prices Including Bitcoin Have Fallen, What Caused It? Page All – To world – Price cryptocurrency or cryptocurrency falls off sharply. From Friday (01/21/2022) a series of a set crypto whose prices fall, among other things Bitcoin, Ethereum, Binance Coin, Dogecoin.

Bitcoin which is krypto- The largest cap even corrected in price to reach the sub-$40,000 per chip level.

As reported (21/01/2022) citing data on the CoinDesk website, the decline in various crypto assets ranged from 7 to 10 percent today.

price drop cryptocurrency today, the global cryptocurrency market cap has also finally evaporated.

Also read: The prices of Bitcoin, Ethereum and Co. fall again

After all, the crypto market cap has fallen 7 percent over the past 24 to $1.94 trillion (Rs. 27.847 trillion), according to the CoinGecko website.

For bitcoin, the price was still above US$43,000 or around Rp. 617 million as of Friday (1/21/2022) early morning Indonesia time.

But by midday of the same day, Bitcoin’s price had fallen 7.7 percent to the price of $38,737, or around Rp. 556 million per chip. This number is the lowest for Bitcoin over the past month.

Coindesk Bitcoin price in Friday’s (19/11/2021) trading session.

Not just Bitcoin, but a number of other popular crypto assets such as Ethereum and Binance also saw falls on the same day. Ethereum fell as much as 9 percent to trade at $2,800 (around Rs. 40 million) per chip.

The day before, the crypto with transaction code ETH was still trading at a price of more than $3,200, or around Rp. 46 million.

Meanwhile, a 10.3 percent drop in the price of Binance Coin was also observed. On Friday (1/21/2022) Binance Coin traded at the $425 level or around Rp. 3.5 million per chip.

Also read: Crypto asset prices fall, bitcoin dips below $40,000

Not forgetting the cryptocurrency Dogecoin, often “mined” by the world’s richest man Elon Musk, which also fell 7.66 percent to a level of around US$0.15 (around Rs.2000) on the same day.

Besides the four cryptocurrencies mentioned above, other monitored crypto assets also saw a decline namely XRP, Shiba Inu, Polkadot, Cardano, Polygon and many others.

According to GlobalBlock analyst Marcus Sotiriou, the fall in crypto asset prices was caused by investors’ reaction to the US Federal Reserve’s plan to raise interest rates this year.

“I think the main reason for the current state of the crypto market is that the market is being intimidated by a Fed rate hike this year,” said Marcus Sotiriou, quoted by Forbes, on Friday.

Another factor allegedly influencing the decline in crypto prices is the discourse to ban the use and mining of cryptocurrencies in Russia.

As is well known, the discourse was proposed by the Central Bank of Russia, which argued that cryptocurrencies could threaten financial stability, the well-being of citizens and the sovereignty of monetary policy.

Wallstreet Journal Bitcoin is the first cryptocurrency with the largest capitalization value

Meanwhile, according to media reports LiveMint, today’s decline in cryptocurrencies like Bitcoin, Ethereum and others was allegedly due to negative sentiment from global investors regarding the policies that will be applied to cryptocurrencies in the future.

This policy arose due to some parties’ skepticism about the global growth of digital assets.

According to the latest report, cryptocurrency transactions will be the U.S. Securities Exchange Commission’s (SEC) primary focus for digital assets in 2022.

Also read: Bitcoin Price Falls, Global Crypto Market Loss Up To Rp. 14,329 Trillion

Regarding the crypto mining ban, China had already done so before the discourse was introduced in Russia. This policy was implemented by the Chinese government with the goal of achieving the mission of carbon neutrality by 2060.

The Chinese government is known to have closed down crypto mines, banned all crypto transactions, and imposed penalties in the form of electricity price hikes on any government institution caught misusing the subsidized electricity it received for crypto mining .

(Quelle: Putri Riyanto, Rully R. Ramli | Editorial: Yudha Pratomo, Erlangga Djumena)

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