These are the reasons why all cryptocurrencies have crashed in 24 hours

The cryptocurrency market has lost more than 10% of its value in just 24 hours, and this is the explanation.

If you have investment in cryptocurrencies, it is likely that you have spent the last 24 hours very complicated and with many doubts about what to do with all those investments. that have lost more than 20% of their value in just one week, and especially more than 10% of its value in just 24 hours.

And when we look at the cryptocurrency market we must look at Bitcoin, which at the time of writing this news according to data from CoinMarketCap, has lost its value by 8.71% in just 24 hours and 17.50% in seven days, which is causing weak hands to sell at a loss and strong hands to continue investing.

Although Bitcoin had stabilized its value between 40,000 and 44,000 dollars in recent weeks, it was from Thursday morning when it began to lose its value considerably, and there are a number of reasons that explain it.

In general, this dip in the value of cryptocurrencies coincides when stock markets around the world crash. However, the Wall Street NASDAQ Composite Index, which includes the most important technology companies, fell 1.30% yesterday, and already had a huge previous drop.

Also a few days ago, the Central Bank of Russia advanced that was going to ban both the buying and selling and mining of cryptocurrencies throughout the country, and although Russia does not represent a high percentage in their mining, it has also been able to affect this drop in Bitcoin and the rest.

But perhaps one of the reasons for this considerable decline in value is the possibility that the United States Federal Reserve (Fed) tighten monetary policy to fight inflation, causing many investors to sell the shares of technology companies.

However Stack Funds, a provider and distributor of managed funds and crypto investment products, stated to the specialized media CoinDesk that “Cryptocurrency markets have been sitting at a critical support level for some time. The weakness of the macroeconomic market is causing a sale of risky assets”.

But this already goes back, because recently the former stock operator Nassim Nicholas Taleb, who already warned about the risks of the US mortgage market before the global financial crisis of 2008, compared Bitcoin to a contagious disease and pointed out that it does not serve as a safe haven of value.