Mar 12, · Bitcoin's sudden sell-off was put down to global market turmoil sparked by oil cartel Opec's failure to agree to a supply cut, sending the oil price to historic lows, but some think bitcoin's Author: Billy Bambrough. Jan 03, · Whenever Bitcoin crashes, altcoins get pulled down as well. Another reason is that searches for “buy bitcoin” on Google Trends have exploded to new highs, which means rising demand from retail investors. But this may not be a good sign. Aug 03, · Bitcoin's Sunday morning flash crash was initially attributed by some to so-called "whales" who control large amounts of bitcoin moving the market, however others have now suggested it Author: Billy Bambrough.
Bitcoin market crash reasonWhat Caused the Bitcoin Market Meltdown? - Decrypt
Bitcoin has been battling against falling trading volumes and stalled adoption in recent months though that's not stopped some from betting big on the number one cryptocurrency. Many have taken the latest fall in the bitcoin price as proof it is failing to act as a so-called safe-haven—an idea that had gained popularity in recent months as bitcoin rose in the face of escalating U.
Traditional safe-haven assets, such as gold and the Japanese yen, usually move higher in times of greater risk and uncertainty. It actually falls more than risky assets during risk-off.
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict. I have covered the rise of bitcoin and cryptocurrency since and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. Follow me on Twitter billybambrough or email me on billyATbillybambrough.
Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies. This is a BETA experience. Jan 6, , pm EST. Jan 6, , am EST. This October, OKEx suspended all withdrawals after the exchange founder was taken away by the police. Today, withdrawals have resumed, following reports that Mingxing Xu was released. Despite the plethora of reasons for the price crash, Bitcoin might just be experiencing a temporary drop off.
However, others in the industry think this price crash is only natural. Read on the Decrypt App for the best experience. For the best experience, top crypto news at your fingertips and exclusive features download now.
News Coins. By Scott Chipolina 4 min read.