Why is cryptocurrency dropping so badly?

Some of the declines have been caused by a combination of factors, Noble theorizes, from enthusiasm for low-quality coins to negative comments from Elon Musk, to China's recent crackdown on crypto services. This combination of factors has the potential to make sales “even more violent,” Noble says. 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.