The Crypto Market Crash As of May 12, the market has witnessed a downfall of almost $1 trillion worth of value in a month

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

The cryptocurrency market has witnessed a plunge in the valuation. Bitcoin, Ethereum and major cryptocurrencies have suddenly crashed. As of May 12, the market has witnessed a downfall of almost $1 trillion worth of value in a month. Bitcoin has seen a significant drop of 12 per cent within the last 24 hours. The massive downfall of Bitcoin has seen it drag the valuation of other cryptocurrencies as well as the entire crypto fraternity is sharing the turmoil of the massive crash of cryptocurrency.

Ethereum, Solana, Cardano and more cryptocurrencies have gone through steeper declines in valuation. Ethereum has witnessed a decline of approximately 22 per cent. This decline comes as a result of an announcement made by Federal Reserve of the United States that they would raise the interest rates by 50 basis points to a new range between 75 per cent and 1 per cent. This was one of the biggest rate increases in the past 22 years in the United States. The measure was implemented to temper soaring inflation.

Cryptocurrency has been a volatile market. Bitcoin has had several downfalls especially themarket crash in 2018. Even though the market has seen an uptick in fortunes, the unpredicatbale nature of the market has seen investors stray away from the market.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Living

The 3 Lifestyle Habits That Made Me Sharper, Stronger and More Successful

These three simple yet powerful lifestyle changes transformed my productivity, energy and mindset. Here's how you can do the same.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

Kolkata-Based Lab-Grown Diamond Brand Jewelbox Secures USD 3.2 Mn

The startup will primarily use the funds to expand its retail footprint, growing from eight stores to 30 locations by the end of this year.

Side Hustle

This Couple Started a Side Hustle to Improve a 'Terribly Made' Bathroom Essential. Now the Business Earns More Than $3 Million a Year.

Michael Fine and Lisa Schulner-Fine launched lifestyle brand Quiet Town in 2016 and have been growing it ever since.

Leadership

How Successful Leaders Get More Done in Less Time

The most successful leaders don't work longer; they manage their time with intention. Here's how to master time-blocking, prioritization and delegation to get more done in less time.

Leadership

Here's What It Takes to Evolve From Hands-On Founder to Strategic CEO

Making the leap from founder to CEO requires more than just growth — it demands a shift in mindset.