Why is Cryptocurrency Down Today?

The cryptocurrency markets are getting crashed. China had already ordered a complete shutdown of the Bitcoin mining in the areas like Sichuan province.

The country had also warned all the banks to stop support on crypto transactions. It is evident that the cryptocurrency is facing very hard times.

Due to the regulations imposed by China, cryptocurrencies are facing very difficult situations.

The major impact among these is the share price drop faced by the cryptocurrencies.

The recent tweet of Elon Musk, had also created a shock to the whole Social media.

It said that Tesla had stopped using Bitcoin in the vehicle purchases. Tesla was also not intended to sell Bitcoin and Elon made it clear that he was against using Crypto at the cost of environment.

Has every Crypto fallen down?

Well, it is not only the bitcoin that faced this pitfall. The top Crypto bitcoin is 6.6% down and Ethereum is 7.8% down.

Apart from Bitcoin, Dogecoin, Cardano, Matic and Ripple(XRP) also fell in prices.

It was unfortunate that the price of Crypto fell down from $65 to almost nothing, when Mark Cuban tried for a business with IRON Titanium Token.

What Made Crypto Fall?

And the fact is that it all started from giants. The ex-US President Donald Trump, had already stated that he thinks Bitcoin is a scam and yes, it was going down. Trump wanted Dollar to be the universal Currency for the world.

The price of Bitcoin had fell in tremendous amounts, after the announcement of Elon Musk and other business tycoons that created an alarm and caution.

Risks of Crypto Investment

The Financial Conduct Authority (FCA) had already warned the people with possible risks involved while investing in Crypto.

Here are some risks to be kept in mind while you opt for a Crypto investment.

1. Consumer protection is not promised.

2. There is high risk of losses and an inherent difficulty of evaluating the cryptoassets.

3. Complexity of products make it even difficult to interpret the risks involved.

4. There can be more charges than expected.

Investing in Crypto can be good and bad in many ways. While considering investment, it is highly recommended to keep the risks involved and the recession of Crypto in mind.

This can help you to calculate and understand what works and what ceases your business processes.

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