Crypto prices crash panic , what is happening?

                                                      Crypto crash

Increasing tension around the conflict between Russia and Ukraine has affected the market a lot, resulting the crypto investors to convert their digital assets in Fiat to protect their portfolios from further price drops. Even HODLers  are considering the fact that now may be the right time to sell their coins because of this crypto ”crash”.

On friday , U.S President Joe Biden said that Russia has decided to invade Ukraine, causing fear in the Crypto market.

Bitcoin dropped almost 10% compared to last week and also altcoins followed this downtrend. Ethereum dropped 9.22% , BNB 7.83%, Cardano 12.4%, Ripple 4.95%. Even memecoins couldn’t resist this downtrend, while Dogecoin fell 10.47% and Shiba Inu 15.78%.

Now that Bitcoin has broken the support of $40,000 further losses could be expected,experts said. And this important barrier was somehow the only reason that crypto investors and most of the hodlers were still looking to hold their cryptocurrencies. The BTC volume yesterday was around $28B and this is an important indicator of what will happen next.

It looks like volatility will continue for cryptocurrencies short-term, even if the long-term picture remains the same.

The conflict between Russia and Ukraine has also hit the traditional financial markets as Dow Jones fell 232 points and Nasdaq was down 168 points.