Why Crypto Market Crash?
The recent cryptocurrency crash has been influenced by several significant events and negative news over the past week. Key factors include: Regulatory Concerns : There is ongoing uncertainty in the regulatory landscape for cryptocurrencies, which is creating apprehension among investors. This uncertainty often leads to reduced enthusiasm and lower investment volumes, impacting prices negatively ( Cointelegraph ) . Hacks and Security Issues : Recent hacks have also contributed to the downturn. Notably, the Lykke crypto exchange experienced a hack that resulted in the loss of $22 million, which has shaken investor confidence in the security of crypto assets ( Cointelegraph ) . Similarly, UwU Lend was hit by a $20 million exploit ( Cointelegraph ) . Market Volatility : Bitcoin and other cryptocurrencies experienced significant price fluctuations. For instance, Bitcoin briefly surged to $71,700 following a rate cut by the European Central Bank, only to fall back below $70,00...