Whether it be Bitcoin or Ethereum, every cryptocurrency has suffered massive losses over the past several days. Prices have dropped to as low as 64 percent, bringing the entire cryptocurrency market cap down to $70 billion from $110 billion.
Image Credit: Yourg/Shutterstock with Coinbase screenshot
Whether it be Bitcoin or Ethereum, every cryptocurrency has suffered massive losses over the past several days. Prices have dropped to as low as 64 percent, bringing the entire cryptocurrency market cap down to $70 billion from $110 billion.
Ethereum’s price has gone from $400 right down to $151 in about a month, leading investors to panic sell. On the other hand, Bitcoin, which dominates the cryptocurrency market is down about 36 percent from its high (it’s currently trading around $1,894). Investors are finding it hard to hold onto cryptocurrencies at such a low price — especially amateur investors who bought them at a much higher price.
So what is causing the prices to dip so low? Could they go any lower? Could the market rebound from here?
Continue reading: https://venturebeat.com/2017/07/16/3-reasons-cryptocurrency-prices-are-in-free-fall/
Here are a few possible causes for the recent price tumble: