Bitcoin and most of the prices of cryptocurrencies have been shattered in the past few days, with concerns about the liberation day tariffs in Donald Trump. BTC decreased to $ 83,000 from the highest level this week, $ 89,000. This article explains the reason for the collapse of BTC prices and other altcoins such as Pi Network, Jasmy, Vechain and Quant (QNT).
Altcoins has crashed like Pi Network, Jasmy, Vechain and Quant
Bitcoin and other altcoins has declined in the past few days. Quantity, a famous player in the distinctive symbol industry, has been shattered by more than 10 % in the past seven days. It has now decreased by more than 56 % of its highest level in November, and it has been hovering at its lowest level since October.
The PI, the famous distinctive symbol to the Earn, fell to $ 0.7840, its lowest level since February 23. It has decreased by 75 % of its highest level ever. Vicein Price fell to $ 0.023, a decrease of more than 71 % of its highest level in November.
In the past few days, other late factors are altcoins such as Pancakeswap, HyperLeeliquid, Kaspa, Lido Dao and XRP.
Fear and greed index in red
The first main reason for the decline in these heroes is that investors are very afraid of the market condition. CNN Money data shows that the fear and greed index has decreased to the 22 -year -old extremist area. Likewise, the Crypto Fear and Greed index fell by Coinmarketcap to 25.
Historically, bitcoin and other decline when investors are afraid. This fear comes from three main areas: bitcoin patterns of landing, American stagnation, and federal reserve actions.
Bitcoin price is the patterns
The first main reason behind the decrease in the network such as the PI, Vechain and Quant network is that Bitcoin shows signs of Habbia. It has formed a rising wedge pattern, a famous continuity mark.
Bitcoin also formed a double pattern at $ 108,500, which is a noticeable position because this is one of the most landing brands in the market. Moreover, he formed a crossed pattern for death as the moving averages turned for 50 days and 200 days. These patterns indicate the additional bitcoin rewriting over time. Most altcoins decline when Bitcoin is not fine.
Read more: Bitcoin’s eyes decreased 74 thousand dollars, as CRO excels and shaped with weekly gains
A tariff on the liberation day of Donald Trump
Another main reason for constant shattering is the increasing fear of the liberation day tariffs in Donald Trump. It has already provided the market with hints of what will come with its 25 % tariffs on cars.
Trump said he will implement a much higher tariff for goods coming from countries in Europe, Asia and South America. The risks are that these definitions may lead to stagnation in the United States and other countries.
This recession will come from the country’s consumer and commercial investments. This week’s data showed that consumer confidence has decreased by 17 points in the past three months.
Consumer confidence often often leads to poor spending, which is the largest part of the American economy.
Federal reserve procedures
The vulgar networks such as vechain, Quant, Jasmy, Pi Network and Shiba Inu decreased due to the uncertainty that the Federal Reserve will do when the United States drowns in stagnation. The recession is a period when the economy shrinks during high inflation.
The data released this week showed that the main address and the Basic Personal Consumption Index (PCE) remained much higher than the 2.0 % FBI goal in February.
Analysts expect the Federal Reserve will maintain a consistent tone in the coming months, then start cutting later this year. Current currency prices are low in the market when the federal reserve is charity.
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