This year, 2022, has not started well for cryptocurrencies whether it’s about Bitcoin or Altcoin, everything seems to be underperforming.
Bitcoin is trading at a 3-month low, down 10 percent for this year and it had hit a low below USD 40,000 as well. This is after an all-time high of almost USD 68,000 in the previous year there, but there is a sell-off in all risky assets. However, the major point is the kind of sell-off that is seen in the last 24 hours itself USD 340 million has been sold and within this USD 122 million sales have come in from Bitcoin.
Of course, many people find it a good level to start buying, but the markets do believe that there is still more downside in the days to come for the sector.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.