Why Does Crypto Crash? 6 Reasons
In 2018, cryptocurrencies have had a difficult start.
Bitcoin (BTC) has lost about 40% of its value year to date as of May 12, while Ethereum (ETH) and Binance Coin (BNB) had each dropped by approximately 48%.
These are the three most valuable cryptocurrencies currently in use, excluding stablecoins like
Tether (USDT) and USD Coin (USDC), which are intended to be pegged to the dollar.
Cryptocurrency price drops have happened before. Cryptocurrencies had another significant decline from mid-May to mid-July 2021, with Bitcoin falling by more than 45%.
Many investors are still drawn to cryptocurrencies despite the volatility.
Vin Narayanan, vice president of strategy at Early Investing, asserts that as cryptocurrency acceptance rises, it'll become more mainstream.