largest cryptocurrency

largest cryptocurrency: The first rule of writing about Bitcoin is: don’t write about Bitcoin.

The story of the world’s best-known cryptocurrency is astonishingly fast-moving and its fans will soon line up to tell you you’ve got it all wrong.

But write about it we must, because the past 24 hours have been catastrophic for the grande dame of cryptocurrency – even by Bitcoin standards.

I’m going to concentrate on Bitcoin here – but if you’re a crypto follower, you’ll know the whole market is troubled, to put it mildly.

What’s happening?

As I write this, Bitcoin is trading at $21, 974 (£18,000). It’s fallen 25% in the past five days alone, to its What’s happening to Bitcoin? the lowest value in 18 months. Its peak of almost $70,000, in November, feels like a lifetime ago.

12 most popular types of cryptocurrency

The charts are all red and they’re going in one direction – downwards.


Experts say this is because of the wider global climate. It’s not just in the crypto world things are not looking good.

Recession looms, inflation is soaring, interest rates are rising and living costs are biting. Stock markets are wobbling too, with the US S&P 500 now in a bear market (down 20% from its recent high).

As a result, even the big investors are less free with their money. And many ordinary investors – not rich hedge-fund owners or corporations but people like you and me – have less to invest in anything, full stop.

For many, an investment in something as volatile and unpredictable as cryptocurrency feels like a risk too great in these times.

It’s unregulated and unprotected by the financial authorities, so if you’re using your savings to invest in it and it loses value, or you lose access to your crypto wallet, your money has gone.

10 Important Cryptocurrencies Other Than Bitcoin

Why now?

Last month saw two much lower-profile but significant coins collapse – and this knocked a lot of confidence in the market overall.

As a result, people are increasingly deciding to sell up.

The more people sell, the less Bitcoin is worth because that’s how it works – its value is pegged to its desirability. This has a knock-on effect of more people selling because they can see the value going down… and the cycle continues.

Unlike other more traditional assets, Bitcoin has no intrinsic value to underpin it – there are no bricks and mortar, revenue stream, or underlying business, FT markets editor Katie Martin says.

“The price is only and purely whatever people are prepared to buy it from you for,” she tells me.

10 Best Cryptocurrencies Of June 2022

“That’s when it gets scary for people because, if enough people head for the exit, there’s no floor. There’s nothing to stop it from trading at $10,000 tomorrow if enough people give up or are forced to sell.”

Why right now?

So that’s the already difficult backdrop for Bitcoin – and then, the past 24 hours saw these developments:

  1. Binance, the largest global crypto exchange (basically a platform for trading cryptocurrencies), paused all Bitcoin withdrawals for a few hours. It said this was due to a “stuck transaction” – although, not everybody believed it
  2. The crypto lender Celsius did the same – but it cited “extreme market conditions” rather than technical difficulties. And now, the Coinbase exchange has just announced it is laying off 18% of its workforce, blaming, in part, the “crypto winter”
  3. Spooked investors started selling off even more Bitcoin

The first two caused panic. Imagine if you suddenly couldn’t withdraw cash from your bank, or you heard other people couldn’t. You’d be at the nearest cash machine, along with everybody else, in record time, and this in itself would create more upheaval and more panic.

Bitcoin: Why is the largest cryptocurrency crashing?

What can turn things around?

In a nutshell – to stabilize it, people who still have Bitcoin would need to hold on to it and others would need to start buying it again. This has happened before.

Crypto fans will tell you now is a great time to buy, because it’s cheap – and you then have to sit tight and watch it turn the corner. This is how it’s always worked.

One of them tweeted me earlier: “The pump will always happen.”

The persuasive stories of those who have “got rich quick”, and the high-profile celebrity endorsements, do attract new money.

Elon Musk has tweeted prolifically about his love of crypto – and his electric-car company Tesla invested $1.5bn in Bitcoin last year.

But investment advisers urge tremendous caution.

The 10 Most Popular Cryptocurrencies, and What You Should Know About Each Before You Invest

“Honestly, it’s somewhere only the brave should enter,” State Street Advisors managing director Altaf Kassam told BBC Radio 5 Live’s Wake Up To Money program.

And speaking of brave, Hollywood A-lister Matt Damon fronted a crypto ad with the slogan “Fortune favors the brave,” in October 2021. It played out at the Super Bowl and has been viewed 28 million times on Twitter and YouTube.

However the “brave” who bought Bitcoin when the ad came out probably won’t now be feeling they were done any “favors” – it was worth about three times as much then as it is today.

About 9,18,00,000 results (0.44 seconds) 

Search Results

Featured snippet from the web

Bitcoin, the world’s largest cryptocurrency is at its 18-month low, plunging to $20,407 (June 15).1 day ago

The great crypto crash: Five reasons why crypto plunged to its 18-month low › article › technology › the-grea

About featured snippets•


CoinMarketCap: Cryptocurrency Prices, Charts And Market

#NamePrice24h %7d %Market CapVolume(24h)

1 Bitcoin1BTC $21,059.61 3.47% 30.07% $401.59B$401,589,552,144 $34.00B1.61M…

2 Ethereum2ETH $1,109.97 5.86% 37.95% $134.52B$134,523,689,338 $21.29B19.18…

3 Tether3USDT $0.9989 0.01% 0.04% $69.96B$69,963,392,427 $57.27B57.33B

12 Most Popular Types Of Cryptocurrency | Bankrate › Authors › James Royal

7 days ago — Largest cryptocurrencies by market cap · 1. Bitcoin (BTC) · 2. Ethereum (ETH) · 3. Tether (USDT) · 4. USD Coin (USDC) · 5. Binance Coin (BNB) · 6.

10 Important Cryptocurrencies Other Than Bitcoin – Investopedia › … › Altcoins

It is the third-largest cryptocurrency by market capitalization.20 Those who use the token as a means of payment for the exchange can trade at a discount

10 Best Cryptocurrencies Of June 2022 – Forbes › investing › cryptocurrency

06-Jun-2022 — 10 Best Cryptocurrencies Of June 2022 ; 1. Bitcoin (BTC). Market cap: $565 billion ; 2. Ethereum (ETH). Market cap: $219 billion ; 3. Tether (USDT).


Largest cryptocurrency Bitcoin is crashing – why? | WION 

YouTube · WION


Bitcoin: Why is the largest cryptocurrency crashing? | Pakistan 

YouTube · Dada Pota Show Official

Largest cryptocurrency Bitcoin is crashing – why? – Edge News

WION · WION Video Team

Most Popular Types of Cryptocurrency | NextAdvisor with TIME › … › Investing › Cryptocurrency

07-Jun-2022 — There are thousands of different cryptocurrencies out there, … It’s also the second largest cryptocurrency by market cap, behind Bitcoin.

Cryptocurrencies with Highest Market Cap – Yahoo Finance › crypto-top-market-cap

See a list of cryptocurrencies with highest market cap from Yahoo Finance, with latest stock price and other details.

Top Cryptocurrencies by Market Cap – ADVFN › cryptocurrency

Top CryptoCurrencies (By Market Cap) ; 1. Bitcoin. (BTC). 403,780,182,825 ; 2. Ethereum. (ETH). 136,080,342,186 …

Cryptocurrencies News & Prices – Markets Insider › cryptocurrencies

Name CurrencyPrice+/‑%market capcirculating supplyVolumeLast…

Bitcoin 22,323.8448 ‑198.29 ‑0.88% 425.69 B 19,068,793 53.63 B 12:26…

Ethereum 1,215.7917 ‑13.06 ‑1.06% 147.34 B 121,188,776 36.64 B 12:25…

Tether 0.9990 0.00 0.02% 69.97 B 70,038,816,029 87.66 B 12:25…

View 97 more rows

Biggest crypto exchanges 2022 – Statista › statistics › leading-cryptocurr

3 days ago — The largest crypto exchange based on 24h trading volume in May 2022 was almost three times the size of the second crypto trader.

 Crypto market cap ranking 2022 | Statista › statistics › biggest-crypto-per

17-May-2022 — A league table of the 120 cryptocurrencies with the highest market cap reveals how diverse each crypto is and potentially how much risk is 

Biggest Cryptocurrency Gainers Today (7th June) on Binance › digital currency

07-Jun-2022 — List of Biggest Cryptocurrency Gainers Today on Coinbase, Binance, CoinMarketCap, CoinGecko: Even as the crypto market is in the Red for the 

East Asia: Pro Traders and Stablecoins Drive World’s Biggest › reports › east-asia-crypto

20-Aug-2020 — Professional traders with heavy altcoin focus dominate East Asia. Currencies included: BTC. The East Asia cryptocurrency market is dominated by 

Top Cryptocurrency News on May 27: The biggest moves in › news › cryptocurrency

27-May-2022 — Major cryptocurrencies traded in the red early on May 27 as the global crypto market cap decreased 5.41 percent to $1.20 trillion over the 

Cryptocurrency – Wikipedia › wiki › Cryptocurrency

A cryptocurrency, crypto-currency, crypto, or coin is a digital currency designed to work as … the world’s largest cryptocurrency exchange, cease all regulated 

List of cryptocurrencies – Wikipedia › wiki › List_of_cryptocurrencies

After the creation of bitcoin, the number of cryptocurrencies available over the internet is … decentralized ledger currency, with the highest market capitalization

UNICEF Cryptocurrency Fund announces its largest › press-releases › unicef-crypto

UNICEF Cryptocurrency Fund announces its largest investment of startups in developing and emerging economies · Among the awardees are companies expanding work to 







Leave a Reply

Your email address will not be published.