The Crypto Market Dip: A Hard Weekend Shakedown By DailyCoin – Investing.com

The Crypto Market Dip: A Hard Weekend Shakedown By DailyCoin – Investing.com

The Crypto Market Dip: A Hard Weekend Shakedown

A major crash over the weekend has seen the value of cryptocurrencies fall to shocking lows.

A sudden 50% decline in Bitcoin's hash rate due to blackouts in the Xinjiang region could be the reason for the decline in value.

This April is becoming the worst April in history for .

The dip in Bitcoin's value took most other digital currencies down with it.

This has been a great year for cryptocurrencies, with general market capitalization going over $2 trillion and the price of Bitcoin hitting $63,729.

However, over the weekend, Bitcoin and other cryptocurrencies took a major hit as prices dropped sharply. Just days after Coinbase's listing on Nasdaq and lots of other laudable feats reshaping and repositioning digital assets, a major blackout in China's Xinjiang region has turned the tide against cryptos.

Bitcoin Dips, Badly

The world's most popular and largest digital asset by market share, Bitcoin took a step back as a major sell-off of cryptocurrencies saw the market lose over $300 billion of its market capitalization in just 24 hours.

The price of the crypto giant has been down by 12% since the recent dip over the weekend. With Bitcoin having the greatest market share, any bearish