- Published on December 9, 2018
- In AI Features
All You Need To Know About The 2018 Cryptocurrency Slump
- By Abhishek Sharma
Earlier this March, the cryptocurrency market took a massive hit in terms of price. The total market capitalisation went from $372 billion to $309 billion in just one day. Bitcoin was the most affected in this $60 billion variation. Although the digital market picked up from this crash later on, it never caught up with the $560 billion made in December last year.
In other words, what saw an all-time high of a monumental $828 billion started to fall down slowly. As a result, people’s interest in investing in cryptocurrency looked bleak in the market. Here are the possible reasons why the crypto market may have gone down so abruptly in the last one year.
The Kobayashi Incident
Where it all started: The controversial bitcoin exchange Mt.Gox, which went bankrupt in 2014 due to multiple
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Abhishek Sharma
I research and cover latest happenings in data science. My fervent interests are in latest technology and humor/comedy (an odd combination!). When I'm not busy reading on these subjects, you'll find me watching movies or playing badminton.
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