Why Cryptocurrency Market is Crashing Today?

There are 3 Major Reasons of Crypto Market crash this time.

1. Mt. Gox FUD

Mt. Gox which was the biggest crypto exchange in past 2014 was hacked. Now MT. Gox made an official statement, they are going to pay back bitcoins and BCH ( worth of 9 billion dollars) to creditors. Now the creditors who received the bitcoins are selling bitcoins on exchanges and bitcoin price is getting dump extremely.

2. Lebanon and Israel war

Second reason of market collapse is, Israel attacked on Lebanon and Lebanon aggressive response to these attacks are adding fuel to market crash.

3. German Government massive sell of bitcoins

In the past few days, German government is selling the bitcoins currently they are holding worth of billion dollars of bitcoins. Currently they sold 7583 bitcoins worth of 434.9 million dollars.

These are the major reasons of market crash. I hope crypto market will recover soon.

Disclaimer. Above information is shared for educational purpose only. Not a Financial Advice. Do your own research before invest in any cryptocurrency.

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