Why is almost all crypto going down?

Neelanjit Das. The prices of Shiba Inu (SHIB) have surged recently. At one point, it jumped by almost 50 per cent. The meme coin was trading at $0.00003013 today, down by almost 8 per cent due to profit booking by some investors in the last 24 hours , according to data from Coinmarketcap.11 Şub 2022

There’s some substance behind Shiba Inu, just not very much. When the market slumps, it’s cryptos with less utility and less established reputations that are hardest hit. Part of the reason for the recent crypto crash is that economic uncertainty has driven people out of riskier assets like cryptocurrency .

As many have pointed out over recent weeks, the big reason why cryptos like Bitcoin are falling alongside tech stocks, experts argue, is the Federal Reserve’s more hawkish turn in its November meeting , indicating an accelerated pace of tapering and rate hikes—a shift away from policies that buoyed crypto since 2020.

Bitcoin fell to a two-week low Tuesday after Russia ordered troops into two separatist regions in eastern Ukraine. Geopolitical tensions and climbing inflation are among the key factors weighing down on bitcoin’s price.