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The panic around the Chinese developer Evergrande brought down Bitcoin

Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, XRP/USD, cryptocurrency, The panic around the Chinese developer Evergrande brought down Bitcoin

Bitcoin, Ehtereum and XRP forecast for today, September 22, 2021


Bitcoin has fallen to the level of $42200. The price of Ethereum fell to the level of $2900, and XRP reached a price value of 90 cents. The total capitalization of the digital currency market fell to $1.86 trillion.

At night, bitcoin fell to the level of $40,200 due to the panic around the Chinese developer China Evergrande, which is on the verge of default. The company's debt problems, which are likely to lead to bankruptcy, have caused panic among investors. Many experts assume that not only China, but the entire world economy will suffer from this. Increasingly, analogies are being drawn between the situation in the Chinese real estate market and the crisis of 2008, which began with the collapse of mortgage companies. The consequences of a possible bankruptcy of Evergrande can cause a huge blow to all high-risk assets, including crypto assets. According to JPMorgan analysts, the fair price of Ethereum based on network activity indicators is $1,500. The network of the second largest cryptocurrency by capitalization is less attractive than its price suggests. Analysts note the growing competition from Solana, Cardano and other blockchains. An alternative opinion suggests that Ethereum will remain the dominant decentralized financial blockchain. Most developers of smart contracts are building an ecosystem based on Ethereum, despite the announced partnerships in other networks.

The forecast expects a further decline in the price of bitcoin to the levels of 42000, 41500 and 41000 dollars. Ethereum will decline to the levels of 2850, 2800 and 2700 dollars, and XRP - to the price values of 88, 85 and 80 cents.

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