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Bitcoin and other cryptos have slumped after record-highs. Is market manipulation the reason why?
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euronews.comBitcoin and other cryptocurrencies have fallen sharply after seeing record-highs just last week.
Bitcoin’s price plunged to $58,400 (€51,000) on Tuesday and hovered just under the $60,000 (€53,000) threshold on Wednesday as the crypto market is again becoming a sea of red.
It marks a 12 per cent drop from the record high of $69,000 (€61,000) set on November 10.
The second-largest crypto Ether meanwhile plunged more than 14 per cent since its record last week to reach $4,244 (€3,7500).
The reasons why cryptos have been so volatile of late is unclear but there are a number of factors at play.
One reason may be due to market manipulation, argues David Gerard, the author of the book Attack of the 50 Foot Blockchain. And it is all to do with Tether,
Read more on euronews.comAbout this in other media
Nandan Nilekani: Crypto can bring about financial inclusion moneycontrol.com /3 years ago
True or false: 91% of surveys about Bitcoin and crypto are totally wrong cointelegraph.com /3 years ago
Bitcoin and Ethereum Spurt Higher, SAND and GALA Rally cryptonews.com /3 years ago
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