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Crypto crash fears intensify as most major cryptocurrencies are in free fall and Bitcoin drops by US$9,000 in just one hour

One certain crypto skeptic predicts that a crypto crash could cause Bitcoin to drop below US$10,000 (Image: Executium)
One certain crypto skeptic predicts that a crypto crash could cause Bitcoin to drop below US$10,000 (Image: Executium)
The recently slumping crypto markets are causing a lot of concern for crypto investors, who fear that the frantic growth of digital currencies like Bitcoin may have peaked and that further corrections or even a full-grown crypto crash are in the cards.

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Cryptocurrency enthusiasts happily celebrated the gigantic growth of the crypto market in 2021, but there have always been cautious voices that spoke of an overvaluation of the market, while some of them issued a stern warning that the chances for a crypto crash were higher than ever before. In an apparently belated reaction to the Fed's recent statements regarding the tapering of its monetary policies, most major cryptocurrencies in the past 24 hours have dropped significantly in price. This development further intensifies the fear of the aforementioned scenario of an upcoming crypto crash, even though the current drop can still be seen as a major correction.

Like many price trends on the crypto market, most major cryptocurrencies were more or less equally affected by this latest slump. Bitcoin (hardware wallet from US$59 on Amazon) for example already stumbled during a weak Friday session, which saw the most valuable cryptocurrency in the world drop to US$52,000 per token. This apparent crypto selloff suddenly intensified during the night from Friday to Saturday and caused Bitcoin to drop another 20% in value over the course of just one hour, bottoming out at approximately US$43,000 per coin.

Bitcoin has since recovered slightly and is currently priced at around US$48,000, which is still 30% below its record high of almost US$68,000 recorded on November 10. Crypto doubters like the well-known investor Louis Navellier anticipate that the crypto market could become even more volatile, and an 85% crash that sends Bitcoin below the US$10,000 mark is supposedly in the realm of possibilities. As always, such predictions and forecasts should be treated with caution.

This article is for informational purposes only and does not contain any kind of investment advice.

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Enrico Frahn
Editor of the original article: Enrico Frahn - Tech Writer - 597 articles published on Notebookcheck since 2021
My fascination for technology goes back a long way to the Pentium II era. Modding, overclocking and treasuring computer hardware has since become an integral part of my life. As a student, I further developed a keen interest in mobile technologies that can make the stressful college life so much easier. After I fell in love with the creation of digital content while working in a marketing position, I now scour the web to bring you the most exciting topics in the world of tech. Outside the office, I’m particularly passionate about motorsports and mountain biking.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 12 > Crypto crash fears intensify as most major cryptocurrencies are in free fall and Bitcoin drops by US$9,000 in just one hour
Enrico Frahn, 2021-12- 4 (Update: 2021-12- 4)