Backtracking Bitcoin – What's Driving the Latest Cryptocurrency Market Crash.
24 Dec 2021, 08:00
Backtracking Bitcoin – What’s Driving the Latest Cryptocurrency Market Crash?
Bitcoin and a wide range of cryptocurrencies have experienced a series of sharp price falls at the beginning of a month that many market commentators believed would be a lucrative one for the crypto market.
With BTC shedding $10,000 of its value in a 14-hour period, it’s worth questioning what’s next for coins across the entire ecosystem, and whether this latest action signals the end of the bull market.
The bullish sentiment toward Bitcoin was shared far and wide after the cryptocurrency broke its all-time high in October and early November. Notably, market analysts at Standard Chartered, among many others, predicted that BTC could reach the dizzying heights of $100,000 in 2021 – potentially triggering a wider market move that would see other assets also rally to new highs.