{"id":15881,"date":"2022-05-05T17:39:03","date_gmt":"2022-05-05T17:39:03","guid":{"rendered":"http:\/\/egrowonline.com\/?p=15881"},"modified":"2022-05-05T17:39:03","modified_gmt":"2022-05-05T17:39:03","slug":"100-billion-crypto-crash-sends-the-price-of-bitcoin-ethereum-xrp-luna-solana-cardano-and-avalanche-into-free-fall","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=15881","title":{"rendered":"$100 Billion Crypto Crash Sends The Price Of Bitcoin, Ethereum, XRP, Luna, Solana, Cardano And Avalanche Into Free Fall"},"content":{"rendered":"


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Bitcoin, ethereum and other major cryptocurrencies have suddenly crashed, wiping around $100 billion from the combined crypto market in mere minutes (and following a serious bitcoin price warning<\/a>).<\/p>\n

Subscribe<\/em><\/strong> <\/em>now to <\/em><\/strong>Forbes’ CryptoAsset & Blockchain Advisor <\/em>and successfully navigate the volatile bitcoin and crypto market<\/em><\/strong><\/a><\/p>\n

The bitcoin price is down around 5% over the last 24 hours, with the ethereum price seeing a similar decline. Ethereum rivals solana, cardano, and avalanche are all down around 3% while Ripple’s XRP <\/p>\n

XRP<\/a>
\n and Terra’s luna are leading the major crypto market lower. <\/p>\n

The sudden crash comes amid a technology company-led stock market sell-off in the aftermath of the Federal Reserve’s hawkish 50-basis point interest rate hike<\/a>.<\/p>\n

Want to stay ahead of the market and understand the latest crypto news? <\/strong>Sign up now for the free CryptoCodex<\/em><\/strong><\/a>\u2014A daily newsletter for crypto investors and the crypto-curious<\/strong><\/p>\n

MORE FROM FORBES<\/span>Huge 2022 Ethereum Price Prediction Comes With A Serious BNB, Solana, Cardano, Avalanche And Polkadot Warning<\/span>By Billy Bambrough<\/span><\/small><\/span><\/span><\/a><\/p>\n

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A huge crypto price sell-off has wiped around $100 billion worth of value from the market as the … [+]<\/span> price of bitcoin, ethereum, XRP, solana, cardano, luna and avalanche suddenly tank. <\/span><\/p>\n

Getty Images<\/small>
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“Bitcoin\u2019s struggle is by no means in isolation\u2013the S&P 500 [has fallen] to a new record low for the year,” Sam Kopelman, the U.K. manager for bitcoin and crypto exchange Luno, said in emailed comments and warning bitcoin could “slip back into the previously found $36,000-$37,000 support range.”<\/p>\n

However, Kopelman is upbeat about the bitcoin price but less positive about other major coins such as ethereum, XRP, solana, cardano, luna and avalanche. <\/p>\n

“Overall, 2022 has generally seen crypto market participants climbing down the risk ladder, selling their smaller coins for blue-chip coins like bitcoin,” said Kopelman.<\/p>\n

Sign up now for CryptoCodex<\/em><\/strong><\/a>\u2014A free, daily newsletter for the crypto-curious<\/strong><\/p>\n

MORE FROM FORBES<\/span>‘World’s Dominant’ Coin-Legendary Bitcoin ‘Whale’ Reveals His Surprise Top Three Crypto Picks As Price Volatility Hits Ethereum And Others<\/span>By Billy Bambrough<\/span><\/small><\/span><\/span><\/a><\/p>\n

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The bitcoin price has suddenly dropped under its recent $38,000 per bitcoin support level. <\/p>\n

Coinbase<\/small>
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The market has had a delayed response to the Federal Reserve’s biggest rate hike since 2000, first spiking on Wednesday’s news and leading market watchers to believe the potentially “bearish event” to have been “priced in.”<\/p>\n

“The market clearly priced in this bearish event during the weeks leading up to the FOMC meeting, where we saw significant sell pressure,” Marcus Sotiriou, an analyst at the U.K.-based digital asset broker GlobalBlock, said in emailed comments following the Fed’s decision.<\/p>\n

Earlier this week, a veteran trader warned the bitcoin price could fall as low as $28,000, down $10,000 per bitcoin from its current price<\/a>.<\/p>\n<\/div>\n


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Bitcoin, ethereum and other major cryptocurrencies have suddenly crashed, wiping around $100 billion from the combined crypto market in mere minutes (and following a serious bitcoin price warning). Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the volatile bitcoin and crypto market The bitcoin price is down around 5% over the last […]<\/p>\n","protected":false},"author":1,"featured_media":15882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[939,1065,50,266,1000,62,158,951,936,357,195,3199,84,58],"class_list":["post-15881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-avalanche","tag-billion","tag-bitcoin","tag-cardano","tag-crash","tag-crypto","tag-ethereum","tag-fall","tag-free","tag-luna","tag-price","tag-sends","tag-solana","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/1651772339_0x0.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15881"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15881\/revisions"}],"predecessor-version":[{"id":15883,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15881\/revisions\/15883"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/15882"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15881"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}