Why did virtual currencies plummet on August 28th (why did virtual currencies plummet today)
So far, Bitcoin has rebounded to around the 30000 level
3. Bitcoin and Ethereum have fallen by more than 20% in the past seven days Today, the crypto asset market is generally up, with BTC plummeting nearly 40%, and spot gold hitting the $29000 level in the short term. According to CoinMarketCap data, the total market value of global digital currencies within 24 hours was approximately RMB 435.6 billion, an increase of 19.9% compared to yesterday. ETH has also dropped significantly below $220, setting a new historical high, with a current quotation of 220.28 yuan per piece; EOS briefly hit $6.59 per piece, with a temporary price of $6.94 per piece. Since August, the overall fluctuation of virtual currency has been small, but its trading volume is still much higher than the same period last year, and it is still in a high and volatile state compared to the previous month
Reasons for the sharp drop in virtual currency prices today
According to Bitcoin. com analysis, there may be three reasons for the sharp drop in virtual currency prices today: firstly, the market’s bearish sentiment towards ETH has increased; The second reason is that the decrease in exchange trading volume has led to a decrease in the price of BTC. Two other reasons have also affected the price increase of Bitcoin. The third main factor is the decrease in the number of counterfeit coins on the exchange. The fourth and most worrisome reason today is that the Cryptocurrency market has undergone dramatic changes in the past 24 hours, and some tokens have recently experienced significant fluctuations.
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