Why are cryptocurrencies dropping now?

The cryptocurrency market is down 4.92% in the last 24 hours (11:45am, Feb. 22, 2020). Bitcoin wasn't the only cryptocurrency to feel the initial effects, and most of the top 10 experienced declines in value. Little-known cryptocurrencies may continue to trade at prices that are not correlated with traditional asset prices, but the same may not be true for more established cryptocurrencies, such as Bitcoin and Ethereum.

In July, the Met seized a cryptocurrency trade valued at £180 million in the UK's largest cryptocurrency seizure to date. With cryptocurrencies often moving in tandem with Bitcoin, Ethereum, the cryptocurrency synonymous with the growing crypto trend of NFTs, was trading lower.

Alexander Osario
Alexander Osario

Total twitter fanatic. Devoted tv trailblazer. Extreme pop culture ninja. Lifelong internet buff. Hardcore sushi expert. Hardcore music buff.

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