Not only has Bitcoin crashed earlier today but it took the whole market down with it including Ethereum, XRP, Monero, Stellar and so on.
Nevertheless, here are a few reasons why we think Bitcoin crashed earlier today.
Miners
The Bitcoin mining economy is in a little bit of a crisis.
The stock market crash
In the beginning, Bitcoin was initially seen as a hedge against the risk of the stock market since its price movements seemed to almost ‘defy gravity’. But with the slide of the Dow Jones Index by a thousand points, within days saw rekindled fears for the traditional world of finances.
Mainstream markets are still lacking exuberance and a need for investments.
What are your thoughts? What do you think caused the markets to crash today?
References
CryptoVest