Earlier this year there was a big crash in the Crypto World, many investors left the business thinking it to be fraud, while many others thought it was time for the business to crash like the others. Crypto has indeed proven that it has come to stay, here are some of the reasons that caused the sudden crash in the Crypto Market.
• FUD
Negative press has a big role to play in the way the market
moves. When FUD starts flooding the media, the price usually takes a dive.
Bitcoins is the new, unprecedented financial instrument and investors in this
hitherto untested asset are quick to pull the trigger and get out.
https://goo.gl/xZGx9g
• Government crackdown
As several countries, notably China and South Korea, target
a crackdown. The Korean crackdown was a paper tiger and debunked by the Countries
highest authority, but bad news leaves its mark on such a speculative market. https://goo.gl/EeuW8U
Also, the Indian finance minister’s crypto
regulation-related comments in a budget speech that accelerated losses. https://goo.gl/V8JWCV
• Correction?
Some experts think that a correction was bound to happen. https://goo.gl/EhCqWs
“The space was ripe for a correction after the craziness of
the end of 2017,” Catalini, an assistant professor of technological innovation
at the MIT Sloan School of Management said.
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