In the last 24h, Bitcoin, Ethereum, Solana and all other cryptocurrencies collapsed. But what is the reason for this?
On the one hand, Wall Street is responsible for this. Because it has suffered huge losses in recent weeks and months. The S&P500 index has now been in the red for three weeks in a row. The same with the Nasdaq, which has fallen 15% since the beginning of the year. So several hundred billion dollars have been wiped out of the market. 148 billion in the crypto market alone in the last 24 hours according to coinmarketcap.com.
Governments also play a big role in the crypto crash. Russia's central bank has proposed to ban the use of cryptocurrencies and mining in the country, which is less pleasant news for investors. Last June, China also enforced a ban on cryptocurrencies, which caused the Bitcoin price to crash by 8.5%. Last November, Bitcoin reached a new all-time high with a value of over 68,000 USD/Bitcoin.
