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Cryptocurrency prices<\/a> are crashing, with Bitcoin<\/a> falling to its lowest level in 2022.<\/p>\n Crypto has been falling fairly consistently for the past month, but has been tumbling rapidly over the last week.<\/p>\n Most major coins have lost around 5 per cent on their value in the last 24 hours. Bitcoin is now worth less than half of its all-time high, which is reached just six months ago.<\/p>\n Here\u2019s where the most popular coins<\/a> are currently valued and what is behind the crash.<\/p>\n Here is the price of the top cryptocurrencies as of Monday 9 May:<\/p>\n Around $300bn wiped from the value of the cryptocurrency market over the last four days.<\/p>\n Experts have suggested $30,000 could be a key level of support for Bitcoin, and that the market could continue to tumble if the world\u2019s largest cryptocurrency dips below this threshold.<\/p>\n Rising interest rates, brought in to combat soaring global inflation, are party to blame for crypto\u2019s struggles.<\/p>\n Investors appear to be moving away from cryptocurrency and towards less risky investments in the face of uncertainty.<\/p>\n Darshan Bathija, chief executive of Singapore-based crypto exchange Vauld, told Bloomberg<\/a><\/em>: \u201cIn light of fears of rising inflation, most investors have taken a risk-off approach \u2013 selling stocks and cryptos alike in order to cut down risk.\u201d<\/p>\n \u201cIn light of fears of rising inflation, most investors have taken a risk-off approach \u2013 selling stocks and cryptos alike in order to cut down risk.\u201d<\/p>\n Simon Peters, crypto market analyst at the online trading platform eToro, said: \u201cThe concern now for crypto asset investors is when the slide will end.<\/p>\n \u201cThe market is caught in the wider adversity of investment markets that are battling to decide where confortable levels are in the wake of interest rate hikes designed to quell soaring inflation around the Western world.\u201d<\/p>\n People invest at their own risk and cryptocurrencies are not regulated by British financial authorities.<\/p>\n All crypto investments are risky, but meme coins like Shiba Inu are particularly volatile, and you should be prepared to lose everything you invest.<\/p>\n The Financial Conduct Authority (FCA) warned in January<\/a>: \u201cInvesting in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors\u2019 money.<\/p>\n \u201cIf consumers invest in these types of product, they should be prepared to lose all their money.\u201d<\/p>\n Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown previously explained the risks to i<\/strong><\/a>.<\/p>\n She said: \u201cOn top of being extremely volatile, most cryptocurrencies are unregulated, which not only adds another layer of uncertainty but also means that investors have little or no protection against fraud.\u201d<\/p>\n<\/div>\nWhat are Bitcoin and other cryptocurrencies worth?<\/h2>\n
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Why is crypto crashing?<\/h2>\n
How risky is cryptocurrency?<\/h2>\n