We’re going to take a deeper look into the events behind this sudden drop amid what crypto investors hope is the beginnings of the recovery on February 25.
The first concerns a hack of one of the largest crypto exchanges, while uncertainty over how the plans of Trump and Musk in the U.S. will affect investors is also expected to have taken its toll.
While crypto is no stranger to market instability, this latest drop is value is more notable than most.
This represents a 16.5% drop in Bitcoin compared to its one-month high valuation in late January.
Cryptocurrencies have seen precipitous drops in their valuation amid a bout of controversies.
