Since the beginning of 2022, there has been strong subsidence in the cryptocurrency market. It stays at its psychological minimum.
For example, on January 8, the cost of the most popular cryptocurrency Bitcoin fell to 40.5 thousand dollars. Starting from September 2021, this is its minimum price. The very next day, the capitalization of bitcoin was less than 790 billion US dollars, which equals almost 40% of the entire cryptocurrency market.
The second most popular cryptocurrency, Ethereum, also sank to $3,000. The same happens with other tokens. They also reached their minimum, which has not been observed for several months.
Experts believe that such a situation in the cryptocurrency market was caused by protests in Kazakhstan. After mining was banned in China, this country came in second place in mining capacity temps. Currently, the Internet in Kazakhstan is unstable, and there are also restrictions on the banking system. According to experts, mining can recover when the political situation in the country is completely stabilized.
In addition to the events in this country, the strengthening of the monetary policy of the Fed influences the cryptocurrency market. This state of affairs led to the fact that investors began to reduce the volume of assets and withdraw funds from the cryptocurrency.
Whatever the reasons, the fact remains that the crypto-currency market has sunk a lot. However, many traders consider this time the best time to buy e-currency. In their opinion, the situation will stabilize, and the price of the cryptocurrency will rise significantly. And they can earn more from it.
The specialists of the Zineera exchange adhere to the same position. Based on the information provided by the Zineera review, the exchange has increased its purchases of cryptocurrencies. The volume of trading and purchases of cryptocurrencies on Zineera exceeded the turnover of a billion dollars per day, at the beginning of 2022. And this is far from the limit. Experienced traders who have already learned how to make predictions themselves or who listen to the predictions of the Zineera exchange have increased their investments in cryptocurrency. In their opinion, the spread of electronic currency can no longer be stopped. The political environment can only temporarily reduce the value of the digital currency. And this decline is sure to be followed by a rise in price, so those who are tuned in to the long term have nothing to fear.