For those who took advantage of the weekend to take a break in the cryptocurrency market and do other things, they were probably surprised to see the state of the market this Monday morning.
To the surprise of many who expected to see the price of bitcoin reach $ 8,000, it was a shock to see that overall market values dropped to the lowest in the last two months in just two days.
The market for cryptocurrency does not stop us from showing how young and volatile it is, and especially how susceptible it is to news that directly or indirectly test investors’ nerves.
Two events this weekend contributed to this widespread sale in the markets, namely the hack of the Korean exchange Coinrail, where $ 40 Million in altcoins were lost and the Commodity Futures Trading Commission (CFTC) subponema to four major exchanges precisely Coinbase, Kraken, Bitstamp and ItBit for allegedly manipulating prices in the futures market.
This was a blow to a market that was trying to recover, at this time the bears have control of the market.