- Renowned Crypto Guru drops 3 reasons behind falling prices.
- He explains why the crypto market is continuously dumping hard.
- The reasons all point to a chance for the wealthy to grow wealthier.
The current state of the crypto market has the entire crypto community in a state of ‘extreme fear’. To highlight, the CMC Crypto Fear and Greed Index is at a score of 15, even lower than yesterday’s score of 17. This marks a deeper drop into the ‘extreme fear’ state. As the price of BTC drops below $90,000 and ETH drops below $3,000, a renowned crypto guru drops 3 reasons behind why the crypto market is dumping hard.
Renowned Crypto Guru Drops 3 Reasons Behind Falling Prices
Over the last 48 hours, the price of the pioneer crypto asset, Bitcoin (BTC), fell from 6-digit prices and dipped as low as $89,500. Over the last few hours, the price of BTC has been moving sideways between the $90,300 and $89,500 price range. This marks a steep decline in the asset’s value, which is down over 5% in the last 24 hours alone. Despite the decline, the 24-hour trading volume for BTC is up over 40%, showing active trading activity.
Similarly, during this same time, the price of the pioneer altcoin asset, Ethereum (ETH), fell from the $3,200 price range and dipped below the $3,000 price range. Just a few minutes ago, the price of ETH dipped to the $2,900 price range, only to climb back up above the $3,000 price range. Despite the falling sentiments, many analysts remain hopeful for altseason, as they believe the bull cycle could not have ended without an altcoin pump.
Why Is The Crypto Market Dumping Hard?
With this sudden, brutal, and continuous decline in crypto prices, analysts are growing less and less bullish and more and more fearful, as most reputable analysts declare that Bitcoin has entered its bear cycle. Does this mean there is no altseason and that the price of altcoins will follow BTC and fall to new lows as well, or is something holding the crypto market back all of a sudden?
As we can see from the post above, this reputed analyst and crypto enthusiast, Crypto Guru, shares three reasons that he believes to be the top factors behind the current heavy market dump. The first reason is believed to be a secret ‘reset’ meeting in Singapore. The post goes on to highlight a rumor that suggests that top funds and exchanges met last week to coordinate a supply flush before the next parabolic move.
The second is that tech giants and financial institutions are continuing to accumulate BTC and ETH, showing no signs of slowing down or selling. The third is that a massive AI and crypto integration announcement will be made next year, and before then, market makers want to flush out retail holders, before sending crypto prices to new highs, like seeing BTC at $200,000 by the end of the year.
