The Crypto industry is a fast-growing business that has made people believe in Blockchain technology, Decentralized Finance, and Financial freedom like never before. Every day people are investing in various cryptocurrencies, conducting crypto trade, and following crypto news to stay up-to-date about crypto marketplaces. Crypto arbitrage is also there and crypto fans are keeping a sharp eye on every news from the crypto industry to avail the chance of high-paying arbitrage.
The fact that blessings do not last forever can not be neglected. Similarly, in the case of the crypto industry, there are many pitfalls. One of them has been adversely affecting the crypto world for the past few days. This unfortunate mishap is called a “Crypto crash”. Within the same time frame, the crypto crash today has affected the price value of Bitcoin and Ethereum by 30%. Dogecoin has suffered a loss of 40%.
Elin Musk suggested that Bitcoin won’t be used as a currency to pay for electric carmakers. This decision was not easy to digest, for crypto lords.
The real bone-breaking experience in the history of the crypto industry was when China pulled its hands from cryptocurrency announcing that digital currencies can not replace real tangible currencies and they must not be given equal importance. Immediately after China released this statement on media channels as a piece of burning news, a crypto crash occurred. Within 24 hours, almost 30% of the price of each top-rated cryptocurrency had declined.
Crypto Crash Today: Why?
Different reasons are suggested on various digital media channels. Just like the Chief Executive Officer of Tesla company claimed that these crashes have happened due to environmental problems. To save the atmosphere from the harmful effects of smoke resulting from Crypto mining could have left a bad impact on the environment. This is the reason why a crypto crash occurred.
The decision of the Chinese Government to negate the use of digital currency as original currency has also led to this disaster. China has banned digital finance since 2019 to avoid cases of money laundering out of the country. To address why the crypto crash happened, let us tell you two important things.
First of all, this is not the first time that cryptocurrency has fallen prey to crypto cash. It has occurred before too in 2018 and 2019 and the price value of Bitcoin becomes stabilized after some period.
Crypto Crash, Bitcoin Mining, and Pollution
At first, it may look awkward to someone but it is a universal truth. Bitcoin mining releases tons of atmosphere polluting carbon and harmful gases in the atmosphere. As a result, the environment becomes polluted and feels polluted causing a bad impact on our health. To help balance this pollution, it is mandatory to limit Bitcoin mining.
The immediate impact of the crypto crash
This crash has resulted in heated discussions among crypto buyers, sellers, traders, marketers, and investors. People who had just started their career in the crypto industry are badly discouraged by these unfortunate crypto crashes. Encountering such a disheartening situation, many people have lost their belief in the crypto industry anymore. On the other hand, a significant population of individuals is planning to invest in cryptocurrency.
Should I buy Cryptocurrency after the Crash crash today?
Yes! You can buy any of your favorite cryptocurrencies even after the crash. The crash thing is all temporary. Sooner or later, the prices of cryptocurrencies will be recovered. That’s why it is a golden chance to invest in digital currencies after the crypto crash today only if you have the basic knowledge of earning through cryptocurrency. Investors who have a high crypto balance are suggested to hold it for as long as required. The price of some cryptocurrencies will be recovered soon while for many currencies this price will take time to get back to its initial value. Therefore, the users are asked to hold their digital assets carefully until they receive the optimum value for them.
How much time will crypto crash last?
The Crypto crash is supposed to be temporary and soon the crypto industry will be restored to its original condition. It is not the first time that crypto cash has shaken the crypto industry. Rather, this has happened several times. This crypto crash has hit many cryptocurrencies including BTC, Ethereum, Litecoin, etc. The only coin that can withstand this harsh crypto crash is Coinbase.
Investing in the crypto industry has always been quite risky. Apart from the sky-high prices that many people can not afford to pay, the chances of money loss are always there. Therefore, one who is willing to invest in crypto marketplaces must grab their favorite cryptocurrencies right now because today they are available at cheap prices due to the crypto crash. You can go for Bitcoins, Dogecoins, and Ethereum.
Read more: How Crypto Signals make you a better Trader?