Understanding Bitcoin’s latest crash: What really happened? By BTC Peers – Investing.com
- Date: 22-May-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Understanding Bitcoin’s latest crash: What really happened? By BTC Peers – Investing.com
On Wednesday, May 19, 2021, the entire crypto market was thrown into a sea of red, with several digital assets recording double-digit losses. dropped to a low of $30,200 after months of trading around $50k, representing a dip of over 50 percent from its all-time high of $64k. Other top cryptocurrencies, including , BNB, and others, lost as much as 30 percent of their value within 24 hours.
Although the market appeared to have bounced back after Bitcoin reclaimed $40k yesterday, the flagship currency has dropped to $37,000 on news that China was clamping down on mining activities.
Several analysts have weighed in on the market correction, as well as how Bitcoin might be primed for a natural price recovery. Here’s a quick rundown on the events that triggered the latest retracement.
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