Monday, October 3, 2022
HomemarketsThe crypto collapse: Here's what's behind bitcoin's sudden drop

The crypto collapse: Here’s what’s behind bitcoin’s sudden drop

  • The flagship cryptocurrency fell to more than three-month lows on Wednesday, dropping to about $30,000 at one point.
  • The recent slide is a reversal from the dramatic rise that started in the second half of last year.
  • Part of the reason for bitcoin's weakness seems to be at least a temporary reversal in broader acceptance for cryptocurrency, as well as regulatory concerns and weakness in more speculative areas of financial markets.

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