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Bitcoins / Breaking News / Cryptocoins

Why Did The Crypto Crash Happen?

Cryptocurrencies are very well known for their volatile prices, and despite only being two months into 2018, we have already seen one crash in prices. Despite thinking that the prices were recovering once again, many seem to have taken yet another dip in value.

Bitcoin Symbol Made of Nodes on Purple Background

Bitcoin is down more than 7.5%, and the other top ten virtual currencies have not faired any better. You come to expect this to a certain extent; like we said, volatility is one of the biggest worries when it comes to investing in virtual currencies, but normally you can usually predict when these dips will happen. However, with regards to this latest dip, there is no bad news to dictate. In fact, it is quite the opposite, and there are several interesting developments that are hitting the crypto market, namely SegWit, which is an upgrade for Bitcoin, which has been designed to reduce transaction times and costs for trading Bitcoin.

Ripple is another coin that has loads of great things happening, but is still seeing a drop in price. the third largest coin by market capital have just made deals with huge banking institutions, including banks from Brazil, India, Singapore and Canada.

Telegram is about to launch round two of funding before they release their public ICO, with the hopes of raising $1.6billion before the general public investment round. If they manage to do this, it will set a huge record for the particular type of investment.

In other positive news that has hit the cryptocurrency market recently, that will not attribute to the dip in price that we have seen over the last few days was the anonymous crypto-trading platform that was created after a 21 year old managed to raise $34million.

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.