“An absolute disaster”, this serious warning of cryptocurrency crashes after the free fall of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, Luna and Avalanche

Bitcoin price rebounded around $40,000 for most of 2022 as bulls and bears fight for control of the market . Meanwhile, the price of ethereum fell below the $3,000 ether mark for the first time since mid-March.

The combined crypto market has lost nearly $400 billion since early April, as the top ten cryptocurrencies, including Binance’s BNB, Ripple’s XRP, Solana, Cardano, Luna and Avax, analysts warning that a “disaster in the financial markets” could push bitcoin below $30,000.

“The signal for a break of the slight uptrend would be consolidation below the $38,000 levels per bitcoin,” wrote Alex Kuptsikevitch, Senior Market Analyst at FxProin e-mail comments. “If the Bulls capitulate, the first cryptocurrency could be pushed into the range of $32,000 to $35,000 without too much resistance. »

The sale bitcoin and crypto comes as U.S. stock market futures fell ahead of Monday’s open after a long holiday weekend as investors brace for a week of first-quarter earnings reports and of speeches by the decision-makers of the Federal Reserve.

Last week, the March consumer price index showed an 8.5% increase from a year ago, the fastest annual gain since December 1981. Fed officials vowed to do whatever it takes to bring inflation under control, however, analysts at Goldman Sachs warned the Fed will struggle to calm inflation without causing a recession in the United States, cwhich puts the odds of the economy contracting by around 35% over the next two years.

“We are increasingly concerned about a summer of turbulence and volatility,” wrote Eric Robertsonchief strategist at Standard Charteredin a note first reported by Bloomberg . Art Hogan, chief market strategist at National Securities, estimates a 35% risk of a recession this year, “but that’s not our base case,” reported Reuters . “As worries about an impending recession fade, I think the sponsorship of defenders will go down with this,” Hogan told the newswire.

“A consolidation scenario below $30,000 would require an absolute disaster in the financial markets“Kuptsikevich added.

Last week, Arthur Hayesthe co-founder of the crypto exchange BitMEXrevealed that he feared that the price of bitcoin and ethereum would drop much more in the coming months . Hayes expects the price of bitcoin to fall to $30,000 over the next two months, with the price of ethereum falling to $2,500 per ether.

“Bitcoin and Ethereum will bottom out long before the fed does not act and change its policy from strict to loose,” he wrote in a blog post adding that he is betting on a “crash” in bitcoin and ethereum prices by June.

The cryptocurrency market is down today

All major cryptocurrencies on Monday April 18 fell early in the day, while the global cryptocurrency market capitalization took the brunt. The largest cryptocurrency in the world, Bitcoin, again slipped below the $39,000 level after rallying above $40,000 for a few days as market volatility continued. On the other hand, other major cryptocurrencies also showed a downward trend as investors continued to assess rising inflation and considered a possibility of economic recession amid the ongoing war between the Russia and Ukraine. The months-long tensions between the two countries have thrown the global cryptocurrency market into volatility.

Here are the top 10 cryptocurrencies and their prices as of April 18, 2022 (data from coinmarketcap.com)

  • Bitcoin $38,936.59 or 3.57% loss in the last 24 hours
  • Ethereum $2,915.79 or 4.96% loss in the last 24 hours
  • Tether $1.00 or 0.01% gain in the last 24 hours
  • BNB $399.00 or 3.94% loss in the last 24 hours
  • USD Coin 0.9997 or 0.02% loss in the last 24 hours
  • XRP $0.7368 or 5.56% loss in the last 24 hours
  • Solana $97.45 or 4.51% loss in the last 24 hours
  • Cardano $0.8887 or 6.22% loss in the last 24 hours
  • Terra $76.94 or 5.81% loss in the last 24 hours
  • Avalanche $73.39 or 5.63% loss in the last 24 hours

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