Crypto Market Sees Big Decline, Bitcoin Price Down to USD 93,000

Strong economic data in the US has had a major impact on the crypto market. Due to strengthening the economy, there is a possibility of retreating from the rates of Federal Reserve in the US. The Crypto market declined a steep decline on Wednesday. The largest cryptocurrency bitcoin’s price has decreased by more than four percent in terms of market value.

America Crypto Exchange after this report is written Binance But the price of bitcoin fell more than four percent to about $ 93,270. Recently, Bitcoin crossed the level of one million dollars again. The second most cryptocurrency Ether had a loss of more than six percent. The Ether’s price was trading at around $ 3,320. Apart from this, the price of Solana and XRP has also decreased.

Bitcoin holds around 56 percent in Crypto Market. The interest of institutional investors in this most popular cryptocurrency is also increasing. Enterprise software -making Microstrategy made a large number of bitcoin purchases in the eighth consecutive week in late December. It is the highest holding company of bitcoin. Micostratezi has about 4,46,000 bitcoins.

Recently, this company had told that it can buy more shares this year and buy bitcoin. However, questions are also being raised on the strategy of buying bitcoin by selling the shares of microsttyte. During campaigning for the election of President in the US, Donald Trump indicated to create a reserve of bitcoin. Federal Reserve says that it does not intend to join the upcoming government’s plan to make a big stock of bitcoin. Russian companies are using bitcoins in business from abroad. Russia had allowed the use of cryptocurrency to change the law by changing the laws of Western countries. Russia’s President Vladimir Putin said that the US government is reducing its role by using the US dollar for political purposes. Because of this, many countries have to move to other assets. Ukraine says it will try to stop the use of cryptocurrency of Russia companies.