Since the start of Q4 2020, the cryptocurrency industry has been flying very high and has proven to be very promising for investors. Then the year 2021 started and things became even better for the entire cryptocurrency industry.
Right from the beginning, the overall cryptocurrency industry started making its presence known to the entire world. The first achievement was the overall cryptocurrency industry crossing the $1 trillion market capitalization within the first ten days of 2021.
Then the industry went onto hit all-time highs with different cryptocurrencies such as Bitcoin (BTC), Etheruem (ETH), XRP, Binance Coin (BNB), and many more.
Since the beginning of 2021, the entire cryptocurrency industry has been showing a lot of growth but at times, it has also experienced a fall in its overall price.
Therefore, one of the recent price drops for the entire cryptocurrency industry was experienced on April 22, 2021. As the downfall was experienced for the entire cryptocurrency industry, the largest cryptocurrency faced the worst downfall.
According to the reports, it was during the late hours of April 22 when the liquidation in Bitcoin (BTC) started taking place. Once initiated, the investors started selling off their Bitcoin (BTC) with fears of incurring a loss if they did not sell it on time.
Therefore, in a matter of 24 hours, more than $200 billion worth of Bitcoin (BTC) was liquidated. This resulted in Bitcoin (BTC) experiencing a significant drop in its price within 24 hours. Because of this phenomenon, Bitcoin (BTC) ended up dropping from $64k per BTC all the way down to $48k per BTC.
Amid the recent downfall, the majority of the short-term BTC investors are seen worried about their investments and the BTC they had purchased hoping they would be able to make more.
On the other hand, the long-term investors and analysts of BTC could not be any happier than this because they had expected the price of Bitcoin (BTC) to drop significantly.
According to the cryptocurrency proponents, BTC had been gaining constant increase and growth in its price. While the majority of the short-term investors looked at it as the perfect opportunity to invest, the analysts had predicted exactly the opposite.
As per the Bitcoin (BTC) proponents and analysts, it was much required for the Bitcoin (BTC) to experience such a drop in its prices. Ever since the beginning of 2021, Bitcoin (BTC) has been gaining a lot of growth in terms of its price, which was an alarming situation.
It was a must for BTC to experience a downfall and then gain natural and stable momentum, which it has already begun. Soon the world would see the price of Bitcoin (BCT) grow higher than $64 BTC.