{"id":143,"date":"2022-01-22T07:13:41","date_gmt":"2022-01-22T07:13:41","guid":{"rendered":"https:\/\/solanacrypto.news\/2022\/01\/22\/why-is-crypto-down-today-crypto-news-and-prices-of-btc-ethereum-dogecoin-solana-in-crypto-crash\/"},"modified":"2022-01-22T07:13:41","modified_gmt":"2022-01-22T07:13:41","slug":"why-is-crypto-down-today-crypto-news-and-prices-of-btc-ethereum-dogecoin-solana-in-crypto-crash","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2022\/01\/22\/why-is-crypto-down-today-crypto-news-and-prices-of-btc-ethereum-dogecoin-solana-in-crypto-crash\/","title":{"rendered":"Why is crypto down today? Crypto news and prices of BTC, Ethereum, Dogecoin, Solana in crypto crash"},"content":{"rendered":"
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Bitcoin\u2019s price has dropped to a six month low of $38,000 on Friday \u2013 here\u2019s the latest crypto news and prices for Bitcoin, Ethereum, Dogecoin, Shiba Inu coin, XRP and more today<\/strong><\/p>\n


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\n \u00a9 Bitcoin price: Why is crypto crashing? BTC, Ethereum, Dogecoin, Solana and more prices in crypto cra…<\/span><\/p>\n

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Bitcoin<\/a>\u2019s price fell below the $40,000 threshold this week after crypto market prices plunged in the wake of the Russian central bank\u2019s proposal to ban cryptocurrencies in the country. <\/p>\n

Bitcoin was trading down by more than 8% on Friday January 21 as the month continues to see cryptocurrencies across the board struggle to return to higher price thresholds in 2022 amid global market uncertainty over crypto risks. <\/p>\n

As of 1.37pm on Friday, Bitcoin\u2019s price was fluctuating at around $38,283.21 (\u00a328,201.60) in an almost 10% fall on the last 24 hours. <\/p>\n

Ethereum, Solana and more major digital currencies and meme coins were trading down on Friday, with Coinbase<\/a> estimating cryptocurrency market prices to be down 11.4% on the last 24 hours as of 6.08pm. <\/p>\n

Read more: Ethereum price: How much is Ethereum worth today? Ethereum price today, price prediction and 2.0 release date<\/a><\/h3>\n

Concerns over cryptocurrency risk for consumers and markets prompted the Russian central bank to propose a ban on cryptocurrencies<\/a> and crypto exchanges, while the UK Government announced on Tuesday (January 18) that it plans to legislate to address a rise in misleading cryptoasset adverts. <\/p>\n

The downward slide in crypto prices suggests that the crash which pushed down prices in early January, as Kosovo clamped down on mining and Kazakhstan\u2019s crypto mining empire took a hit during political unrest, could be set to continue. <\/p>\n

Here\u2019s why crypto is down today, what caused the latest cryptocurrency market crash and the latest prices of Bitcoin, Ethereum, Solana, Cardano, XRP, Shiba Inu coin<\/a> and Dogecoin. <\/p>\n

What is Bitcoin\u2019s price today?<\/h2>\n

On Friday January 21, Bitcoin\u2019s price sharply fell after trading at approximately $43,511.99 as of 4pm on Thursday. <\/p>\n

The world\u2019s largest cryptocurrency was trading at around $40,000 in the early hours of Friday morning, shedding almost $3,000 regained since early January this week, before dipping below the $40,000 threshold shortly before 2am UK time. <\/p>\n

As of 6.10pm on Friday, Bitcoin\u2019s price was down by 9% on the last 24 hours and fluctuating at around $38,412.93 (\u00a328,334.10).<\/p>\n

According to data collected by CoinMarketCap<\/a>, however, Bitcoin is seeing increased trading activity on Friday evening \u2013 with its 24 hour trading volume up<\/p>\n

122.75% as of 6.10pm at $37,185,577,576 as investors buy the dip. <\/p>\n

Over the past few weeks, Bitcoin\u2019s price has been fluctuating mostly between $40,000 and $45,000 \u2013 hitting a recent high of $52,100 on December 27.<\/p>\n

The major cryptocurrency\u2019s price has seen recent gains of almost $15,000 were wiped off the board for Bitcoin after it came the closest it ever has to reaching a new landmark threshold of $70,000 in November.<\/p>\n

Why is crypto down today? <\/h2>\n

Bitcoin\u2019s price enjoyed a bullish rise to near $70,000 in value in early November as investors hoped to see the cryptocurrency\u2019s $1 trillion market cap remain firmly in place ahead of a volatile trading period. <\/p>\n

But it\u2019s plummet below $50,000 came in late 2021 as US and UK<\/a> markets struggled to contend with renewed concerns over the impact of Covid-19, the Omicron variant and high inflation. <\/p>\n

Bitcoin\u2019s price fell in early January after a sharp sell-off ensued on the Nasdaq index on Wednesday January 5, as the US central bank looked poised to lurch away from its coronavirus pandemic monetary policies with interest rate hikes and a potential cut to securities in order to shrink its balance sheet. <\/p>\n

500 points were wiped from the tech-heavy Nasdaq index following the release of minutes from the US Federal Reserve\u2019s latest meeting<\/a> in December \u2013 in which \u201cexpectations for a reduction in policy accommodation shifted forward notably\u201d. <\/p>\n

But the cryptocurrency also took a major hit as crypto mining operations in Kazakhstan<\/a>, which have proliferated since China outlawed cryptocurrency mining in the country, went down during in a nationwide internet outage. <\/p>\n

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Video: Kazakhstan crackdowns hit crypto miners (Reuters)<\/strong><\/p>\n

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Kazakhstan crackdowns hit crypto miners<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n