Why is the cryptocurrency market crashing?
It’s always hard to pinpoint an exact cause, but in this case, there seem to be a number of factors at work.
Just to give you an idea of the magnitude of the drop (though the price of bellwether Bitcoin (BTC-USD) had recovered a bit by early Saturday afternoon to above $48,000, from a low of around $45,000), understand that BTC was testing $57,000 just Friday. The move from then to this afternoon’s levels represents a 14.2% drop.
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