Crypto Crash Is Getting Worse! Will Altcoins survive the bloodbath?

The crypto markets are currently in free fall. Bitcoin is facing intense losses, Ethereum and all altcoins are also crashing. How serious is the situation now for cryptocurrencies?

Bitcoin is fighting for every dollar

The situation for BTC, ETH and altcoins has not been so dramatic for a long time: the entire crypto market capitalization had to lose an incredible 13% within the last 24 hours, it now stands at just $1.18 trillion.

For comparison, only in November the market capitalization managed to break the $ 3 trillion mark. The intensive decline can be seen in the prices of all coins: Bitcoin lost about 10% overnight, trading at $ 27,770 as a result at the time of this article. A sharp minus also for Ethereum: This had to lose almost 20% on a daily basis, and has since been quoted at $ 1,893.

Even worse is the weekly performance of the coins. BTC: -29.85%. ETH: -35.4%. BNB: -40.56%. Ripple’s XRP: -41.52%. Cardano: -47.86%. Solana: -52.62%.

The meme coins have also crashed violently: Dogecoin has a decline of 43.25%, Shiba Inu loses 49.52%. It’s no better with the Metaverse cryptocurrencies: Decentraland has withdrawn 56.29% within seven days, The Sandbox 52.04%.

Anxiety-filled sentiment among investors

Sentiment among crypto investors has reached a new low due to the recent crypto crash. The “Crypto Fear & Greed Index” Shows: Investors are currently “extremely scared– – either they wait or they leave the markets.

Is Altcoins threatening this now? Or can the coins recover again? “Moonrock Capital”-Partner Simon Dedic admonishes prudence in this regard. The industry observer to his more than 144,000 followers:

“This crash is no different from other crashes I’ve experienced so far.

A vicious circle that leads to a panic run on liquidity.

In the end, BTC and crypto will again be among the biggest winners.

All you have to do is stay strong.“

This crash is not different from any other crashes I experienced before.

A vicious cycle that results in a panic-run for liquidity.

Eventually, $BTC and crypto are going to return as the biggest winners again.

All you need to do is to stay strong.

– Simon Dedic (@scoinaldo) May 12, 2022

The popular pseudonymous analyst Credible Crypto (@CredibleCrypto on Twitter) also expresses confidence, that altcoins are now going up again after the recent corrections. He writes:

“If I’ve ever seen an altcoin capital evaluation, then this is one, and this usually marks the beginning of the end of most major corrections. I’ve experienced big surrender events after our collapses at 6k in 2018, 10k in 2020, and here again now – and they all feel the same.“

This is capitulation on alts if I’ve ever seen it, and this typically marks the beginning of the end of most major corrections. I’ve witnessed major capitulation events on our breakdown from 6k in 2018, 10k in 2020 and here again now and they all feel the same.

– Credible Crypto (05.27) (@CredibleCrypto) May 12, 2022

Tip: new DeFi cryptocurrency with decentralized exchange

In the midst of the crypto correction, a DeFi project is now fully underway: DeFi Coin (DEFC). At the time of the launch of DeFi Swap, the associated decentralized exchange, it has increased by 300%, but is now in a correction of 30%. Who is interested in the coin, could therefore now enter at a reduced rate. If the project implements its roadmap as planned, DeFi Coin expects some milestones in the next few months: for example, the launch of DeFi Swap version 3 is planned. This should offer users numerous improvements and additional functions, including Market data, podcasts, interactive charts and the highly sought-after crypto trading signals.

How to buy Defi Coin (DEFC)?

Last updated on May 12, 2022

Cryptocurrencies are a very volatile, unregulated investment product. Your capital is at risk.