Explained: Why Bitcoin, Ether, and other cryptos crashed Friday
Bitcoin is currently trading at $35,700, even when trading activity has picked up significantly, indicating a mass sell-off in progress. The coin is down over 40 percent from its all-time high of $69,000. Meanwhile, as per data from coinmarketcap.com, the cryptocurrency market cap has declined by over 12 percent in the last 24 hours. What is the reason behind this massive sell-off? Let's find out
Bitcoin dropped below the psychologically important support level of $40,000 Friday, slumping over 10 percent in what was a massive sell-off in the entire cryptocurrency market. The slump continues to deepen as the world’s biggest cryptocurrency saw a decline in value by $5,000, a decrease of 8 percent over the past day.
Bitcoin is currently trading at $35,700, even when trading activity has picked up significantly, indicating a mass sell-off in progress. The coin is down over 40 percent from its all-time high of $69,000
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