Why Is Bitcoin Price Down Today?

Crypto assets are an attractive option for investment and trading because of their high price volatility. By studying cryptocurrency prices, investors can understand when it is best to buy and sell assets to profit and avoid losing money. All digital assets are divided into low, mid, and large capitalisation coins. Coins with the biggest market cap are the market leaders; they have the highest liquidity and are not too sensitive to sharp market trends and changes. That means when investors start to leave the market massively, it does not hit the price of large-cap coins at once. Bitcoin has the largest capitalization of over $330 billion. It is the most traded crypto asset throughout all crypto platforms. BTC EUR is one of the most traded pairs.

Let’s take a look at the key indicators for all digital currencies.

What Characterizes Digital Coins?

Here are some indicators to evaluate crypto:

• Market capitalisation of cryptocurrencies. This is the value of all issued cryptocurrencies, calculated by multiplying the current value of the cryptocurrency by the number of coins in circulation and remaining in circulation.
• Cryptocurrencies price – current market rate.
• Trade volume: the number of all transactions of a given crypto asset on a given exchange within a given period of time, often 24 hours.

What Happened to Bitcoin in 2022?

In the spring of 2022, the cryptocurrency market collapsed, and investors started to leave the market in masses. There were several reasons for this. For example, the looming crisis, rising inflation, worrying information background, and large continental war. Add the fact that Binance blocked BTC withdrawals for some time, which was the last straw for the inevitable market collapse. Bitcoin dropped first, and other assets followed, as usual. In the wake of the downtrend, investors started selling crypto assets, causing panic and further reducing demand.

Another collapse occurred in November 2022, when the FTX exchange relieved its financial problems, causing a massive outflow of funds from the platform and, thus, crypto rates drop.

However, the bear market trend is always replaced by a bullish tendency, and the coming 2023 is supposed to be a good year for the crypto industry, as many experts say. So if you want to invest in Bitcoin as long as its price is relatively low ($17), welcome to the WhiteBIT exchange. It is a centralized platform that allows buying digital coins with fiat and converting them back and withdrawing cash. Check out BTC to EURO and BTC to USD pairs if you want to convert your Bitcoins to fiat.