Cryptocurrencies prices go dipper as panic made $350B wiped off Total Crypto Market Cap

The crypto market keeps deepened further on Wednesday, Altcoins suffer more than Bitcoin as the panic made $350 billion wiped off the total crypto Market Cap, with Bitcoin's price falling below $40,000 for the first time since February.

Only a small handful of altcoins in the top 100 have actually managed to see their price appreciates over the past 24 hours such as Fantom which is up 3.72% and SushiSwap 2.83%.

Ether dropped by 15% over the past 24 hours down below $3,000, also Cardano and Dogecoin have been seen down to like 15%, XRP and Polkadot appear to be weathering the storm a little better, minimizing their falls to 9% and 7.5% respectively.

There are charts by the Chief investment officer at Moskovski Capital, Lex Moskovski suggesting that on average most investors are now selling at a loss.

He said in an earlier tweet late on Tuesday evening, saying that 22,917 BTC was deposited to exchanges in a single hourly period a sign people are preparing to offload. He wrote:

"This hourly inflow is rivaled only by the March 2020 crash. People are scared."

Yesterday, CoinMarketCap Alexandria reported that Bloomberg was anticipating a pullback to the 200-day moving average, taking BTC down to $40,000. That has now happened - probably a lot faster than they were expecting.

Will CNBC's Carter Worth prediction come to pass?

However, people are now waiting to see if predictions from CNBC's Carter Worth end up being correct. He predicted that BTC could tumble 55% from recent all-time highs of $65,000, taking the cryptocurrency down to $29,000.

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