Crypto Market Returns Plunges Into The Negative, Here’s Why

The crypto market has seen its returns over the last month wiped away in a matter of days. While the market was pumping, cryptocurrencies in the space were returning double-digit gains, with the investor sentiment rapidly growing with it. However, with bitcoin’s rejection at $25,000, the entire market had seen a swift downtrend. Now, investor sentiment has worsened, and the digital assets which had enjoyed the period of growth are now in the red. Crypto Indexes Lose Gained Value Back at the beginning of August, when the crypto market was recovering, all indexes in the space had seen tremendous growth. The most prominent of these had been the gains that the small and Mid Cap indexes had returned. As expected, these highly volatile assets had swung high since crypto investors were gaining their risk appetite once more. Related Reading: Why Ethereum Is An Attractive Investment Right Now However, as the month draws to an end and hype around the Ethereum Merge dies down, the market has swung back into the red. For last week, the Small Cap Index saw the most losses, which is expected in such a market. It is currently at -85 in returns for the month. The Mid and Large Cap Index also followed the same route with 8% losses. Bitcoin was the only one out of the three that managed to hold a bit better to its value, although not by a very large margin. The pioneer digital asset recorded losses of 7% during the same time period, all of this...