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Bitcoin Crashes 14% In The Last 24-Hours, Millenials Losing Big Time


For a temporary period, Bitcoin fell below $21,000 on Tuesday but later bounced back a little bit. However, the decline in Bitcoin continued as Investors opted to sell off risk assets. World's leading cryptocurrency witnessed a decline of nearly 10% in just last 24 hours as Ethereum plunged over 6% over the same period, as per the Coinbase data.

Bitcoin Crashes 14% In The Last 24-Hours, Millenials Losing Big Time

Bitcoin was last trading at $22,595 at 2.53 am ET, as per reports available.
According to experts, everything is witnessing a decline presently whether it is equity or crypto assets.

Crypto assets witnessed mayhem on Monday as trading platforms like Binance and Celsius paused withdrawals and few companies slashed jobs.

The downfall in crypto is sharper than the dip in the share market. According to reports, S&P 500 witnessed a downfall of 18% so far in 2022 but when it comes to Bitcoin prices, they have declined approximately 40% in the similar tenure.
And, Dogecoin too fell by nearly 50% in 2022.

The young generation has been fascinated by Bitcoin and invested a considerable amount in it and unfazed by the decline that it witnesses. They have developed significant interest in Cryptocurrency and Bitcoin as it has given stupendous return in short span of time.

Young generation aspire to get rich quickly and that's what drawn them to Crypto and NFT Markets. They believe that when you are young you can take risks on investments. And, they believe that crypto and NFTs are major players that can offer the opportunity to get back 10x or even 100x on investments within just some months or weeks.

The new generation apparently have decided to put their faith in more volatile assets but there is no certainty that they will get the desired return. Young investors frequently search for investment options that can change their fortune overnight as they are inspired by the success stories available online.

Read more about: bitcoin bitcoins cryptocurrency
Story first published: Tuesday, June 14, 2022, 15:20 [IST]
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