Bitcoin lost over 12% in the last 24 hours to drop from around $7,380 yesterday to $6,412 today, initiating another crypto crash, with top coins like Ether, Bitcoin Cash, EOS, Litecoin, Cardano and Monero losing nearly 20% in the same period.
Why is the crypto market crashing again?
After a rough August, Bitcoin and the crypto market as a whole seemed to be on a course to recovery, backed by positive sentiment and interesting developments. However, the upside appears to be short-lived as the market cap dropped from nearly $239B to $200B in the last 24 hours.
One of the recent setbacks which may have fueled a speedy decline was Goldman Sachs’ decision not to pursue a crypto trading desk in the face of regulatory uncertainty surrounding the digital assets.
This was an important driver for the market given how the recent recovery came at the back of optimism surrounding U.S. SEC’s regulatory measures and the involvement of reputable institutions such ...
This article appeared first on Cryptovest
