WHY#BITCOINAND CRYPTOCURRENCIES CRASHED?

BTC AND CRYPTOCURRENCIES HAVE LOST OVER $100 BILLION IN MARKET CAP IN THE LAST 12 HOURS Why this happened It is well known that the cryptocurrency market is tied to the stock market In the past two days, ALPHABET and Tesla reported quarterly earnings.

Alphabet’s YouTube ad revenue missed expectations, while Tesla reported a profit slump This caused both Alphabet and TESLA to plummet, and led to the biggest plunge in the S&P 500 and Nasdaq since September 2022.

The 7 largest companies in the U.S. lost $500 billion in market value, while the entire U.S. stock market lost $1.1 trillion.

But there are other things BITSTAMP will start distributing MT. GOX BTC starting today They expect they will distribute over 35,000 Bitcoins worth $2.25 billion Markets usually try to price in these plunges so BTC dropped below $64,000 ETH sold off 4 times more than BTC as it also experienced massive outflows.

I think this is just a temporary downturn and the market will recover soon. So don't panic and hold on carefully.