Cryptocurrency Ethereum decreased by 18%, bitcoin — by 13.5%

The cryptocurrency market continues to swing: while last week was marked by significant growth, this week we are seeing an equally noticeable drop.

Ethereum is losing the most per day and per week: minus 18%. Now, 1 ETH is worth about $ 1,650. Bitcoin’s exchange rate is also declining: the weekly drop was 13.5%, and the daily drop was about 3%.

The crypto market is falling after the US stock market, with which it is directly correlated. However, the decline in the stock market is more moderate: Tesla shares, for example, fell by only 2%, Microsoft shares — by 1.4%. As for this year’s low, it was $ 17,500 for bitcoin and $ 920 for Ethereum.

Cryptocurrencies have now fallen to the level of around the end of July. Since the local lows are far away, there is no need to talk about a crypto winter yet.