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Bitcoin price crash: Why is cryptocurrency market collapsing? – The Independent

‘Volatility isn’t new and is to be expected in such a young market,’ analyst says

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The price of bitcoin has fallen by 20 per cent in just over 24 hours, having briefly hit a new all-time high above $58,000 on Sunday.
Market analysts have called the cryptocurrencys collapse a price correction, though the reason for such a massive adjustment is not immediately clear.
Wild price swings are a familiar issue for bitcoin and other cryptocurrencies, often exacerbated by the influx of large amounts of capital into such a nascent market.
Other major cryptocurrencies experienced significant…

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