The cryptocurrency market is plunging to a new low every day. Bitcoin, the world’s largest cryptocurrency is at its 18-month low, plunging to $20,407 (June 15). It is down by around 60 per cent so far this year. Meanwhile, the second-largest crypto Ethereum fell over 25 per cent to $1,040.
The global crypto-market has shrunk from $1.02 trillion to $983.72 billion, an 11 per cent decrease since Monday, according to CoinMarket cap. All major cryptocurrencies have been trading in the red lately, with the fall testing even long-term investors. Here we explain all the reasons that triggered the great crypto-market crash.
Luna-Terra crash
It all started after the Luna-Terra fiasco. It was an event that had severe consequences for not only its investors but the crypto ecosystem at large. Many investors lost their entire life savings parked in Terra coin, a stablecoin with a market capitalisation of over $18 billion before the crash.
Stablecoins are supposed to be priced equal to the US...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...