Why Crypto Market crash? 6 possible reasons of the same
Crypto markets were wiped by $2 trillion in the recent crash in the first week itself in the year 2022.
Let's explore the possible reasons for the recent crypto market meltdown.
Recently US Securities and Exchange Commission (SEC) blocked a spot Bitcoin exchange-traded fund.
US Federal Reserve discussing hiking interest rates in sooner than expected. This may be the reason the drop occurred after uncertainty in the wider US economic market.
UK police also seized £300m in Bitcoin. This is only but this is an only a tiny fraction of crime-linked crypto wallets.
Crime involving cryptocurrencies hit an all-time high of $14 billion last year, blockchain researcher Chainalysis said on Thursday
China continues its clampdown on Bitcoin mining. China recently announced its plans to clean up virtual currency mining. China’s digital yuan app is also now available on Chinese Android, iOS.
India is also planning to ban crypto by introducing a bill. Indian ED launches a probe into a Rs 1,200-crore crypto scam recently and conducted raids in four major cities in India.
Elon Musk predicts a looming global financial crisis later this year or in early 2023
Check the impact on Top 10 cryptocurrency after the crash.
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