Why are Bitcoin and other cryptocurrencies crashing? – The National
- Date: 15-Jun-2022
- Source: The National
- Sector:Financial Markets
- Country:UAE
Why are Bitcoin and other cryptocurrencies crashing? – The National
Cryptocurrency markets never close. But perhaps some investors wish they would as the two biggest tokens by market value plumb new depths, having lost more than $200 billion in the last several days.
Market heavyweight Bitcoin hit an 18-month low overnight on Monday, plunging below $23,000 and 67 per cent lower than its all-time high in November last year, as of 3pm UAE time on Tuesday. Ethereum, the second-most-valuable digital coin, has now lost 75 per cent of its value from its high in November.
The dreaded FUD is here.
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