Crypto Crash Explained—Why Bitcoin, Luna, Ethereum Prices Plummeting

Crypto Crash Explained—Why Bitcoin, Luna, Ethereum Prices Plummeting

Bitcoin and other cryptocurrencies have crashed further as a massive sell-off continues to roil the cryptocurrency market.

The price of bitcoin was around $28,000 on Thursday, down about 7 percent over the last 24 hours, according to data from CoinGecko.

Both bitcoin and its rival, ethereum, are down about 30 percent in the past seven days. Ethereum was trading at about $1,908 on Thursday, down about 18 percent over the last 24 hours.