The crypto money market, which had a very active summer period, started to collapse in September. The biggest 250 cryptocurrencies declined.
The crypto market is shaking
There is a serious fluctuation in the economy due to the pandemic. Especially in March, a serious collapse started in the crypto money market. The decline of Bitcoin to the level of 4 thousand dollars also negatively affected other cryptocurrencies.
The recovery process started very quickly and by the end of August, Bitcoin had reached the 12 thousand dollar band. However, as of September, the activity in the crypto money market decreased and Bitcoin fell back to the 10 thousand – 11 thousand dollars band. Similarly, XRP, which saw the levels of $480 for a period, fell to $355 levels. XRP, which made great hope by crossing the 30 Cent band, fell to 24 Cent levels.
The YFI currency, which has great expectations, declined from 40 thousand dollars to 22 thousand dollars. When we look at the crypto money market in general, we see that there has been a serious decrease in 250 cryptocurrencies, which have a significant user base. The status of Bitcoin, which has recently been correlated with gold, seems to change according to the state of gold.