Why Is Crypto Down Today: The biggest disadvantage of crypto is that it is a digital currency and its value keeps going up and down according to the market. For the last few days, the value of all cryptocurrencies is going down. The reason for this is more than one.
Everyone is suffering a lot due to the downfall of cryptocurrency. Because most of the investors have kept some investment in crypto. Being a crypto digital currency, it has become a future-proof currency.
Why Is Crypto Down Today
Just a few days ago the US Securities and Exchange Commission (SEC) blocked a spot bitcoin exchange-traded fund, causing the crypto to go down. Because people are satisfied with every decision of (SEC). But it cannot be said that the crypto market value has gone down completely. If you look at bitcoin, its price has also gone down. But still, bitcoin is the most expensive cryptocurrency. And China on the other hand will always continue bitcoin mining. But people do not give much importance to China.
Read This: Why Bitcoin Is So Popular
Why Is The Crypto Market Down Today And Will The Crypto Market Return To What It Was Before?
The reason for the fall in the market value of crypto is the Securities and Exchange Commission. Along with this, the Indian government also talked about banning cryptocurrency in India. Similarly, in other countries too, crypto is not being given much importance by the government. Perhaps this is the reason why the market value of crypto is going down.
Whether the market value of crypto will return or not can be said right now. That’s why you should be patient to invest in crypto. Because of Elon Musk, the market value of crypto had increased a lot. Because Elon Musk’s company Tesla talked about accepting bitcoin through a payment system.