Bill Gates, the Microsoft founder, once claimed on Reddit that he loves to invest in things that have value and states “the worth of companies is determined on how successfully they develop a product”. He also stated that the value of cryptocurrency fluctuates based on what one person believes another person will pay for it.
The abrupt drop in June 2022 had a major impact on global market capitalisation. As it shrank dramatically during the summer of 2022. Investors have lost up to millions of dollars in less than 24 hours, marking yet another major blow to the market in less than a year.
Most of the biggest coins in today’s market have witnessed significant drops, and analysts and crypto experts have advised that investing in the dip may not be the worst move in the world. Bigger crashes in the market have occurred in the past, according to historical data. The cycle of the negative run that gradually reverses itself is a common occurrence in the crypto realm.
In this article we will be looking at some reasons which contributed to the market crashing and also looking at how Big Eyes Coin (BIG) was thriving during the presale amidst this bad crash.
Big Eyes Coin (BIG) Presale Has Been Turning Heads
Big Eyes Coin has been working relentlessly since the beginning of the year to ensure that the buildup to its launch generates as much excitement as possible. Big Eyes has raised $17.61 million as of this writing, which is incredible considering it was only at $13.70 million a week ago.
The Big Eyes Coin is a brand-new meme coin that you should be aware of. The enthusiasm rises as this meme coin reaches more crucial milestones. Big Eyes Coin is a full-featured community token designed with the sole purpose of bringing money into the DeFi ecosystem and safeguarding an essential component of the broader ecosystem.
The game will alter as a result of the upcoming Big Eyes Coin upgrades. BIG wants to contribute 5% of all earnings to organisations that encourage marine life preservation. It has pledged to fight for the preservation of our ecology, and this is part of that effort. This struggle is more prevalent than ever, and the BIG community is fiercely behind it.
Some Reasons for the Crypto Crash
Here are some reasons for the current crypto crash:
- Cryptocurrency Regulation – China was one government that prohibited crypto mining in the summer of 2021, forcing miners to relocate to miner-friendly states.
- Crypto Influencers Causing Volatility – We’ve seen in the past how influencers and crypto enthusiasts have generated capital inflows with something as basic as a tweet. Although this can have a beneficial impact, a fantastic example is when Elon Musk tweeted in support of Dogecoin.
- Lack of Liquidity in the Cryptocurrency Market – One of the primary concerns with the cryptocurrency market is that consumers leap at the chance to acquire fresh currencies. We also have whale investors that sell a large quantity of cryptocurrency, flooding the market.
Crypto experts and enthusiasts are optimistic about the start of the new year. Bitcoin’s price has risen by 30% since the beginning of the year, reaching above $23,000 per Bitcoin after dipping below $16,000 in late 2022. The price of Ethereum has risen similarly, as have the prices of some of the top 10 cryptocurrencies, including BNB, XRP, Cardano, Dogecoin, Polygon, and Solana.
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