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Uncover the three main culprits behind the cryptocurrency market crash!

The cryptocurrency market suffered a major crash, shocking investors around the world. What exactly caused this market turmoil? Here are three core factors:

Mt. Gox's historical legacy:

The former crypto giant Mt. Gox, which was attacked by hackers in 2014, has once again become the focus of the market. The exchange recently announced that it will pay creditors up to $9 billion worth of Bitcoin and BCH. As creditors sold their Bitcoin on the exchange, the market price fell sharply.

Escalating geopolitical conflicts:

The market is sensitive to the escalation of tensions between Lebanon and Israel. Israel's attack on Lebanon and Lebanon's tough response have undoubtedly brought more uncertainty to the already fragile market and exacerbated the market crash.

The German government's selling behavior:

Recently, the German government has sold off billions of dollars worth of Bitcoin on a large scale. It has sold 7,583 Bitcoins with a total value of $434.9 million. This move has undoubtedly brought a huge impact on the market.

These three factors have worked together to trigger violent turbulence in the cryptocurrency market. However, the market is always full of variables. While investors are paying attention to risks, they also look forward to the cryptocurrency market being able to return to stability as soon as possible and usher in a new recovery.

Disclaimer: The content of this article is intended to provide information, not investment advice. Before making any cryptocurrency investment, please be sure to conduct sufficient research and risk assessment.

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