Cryptocurrencies are plunging – but why?

Despite a huge rally in the fourth quarter of 2017, the prices of many cryptocurrencies—including Bitcoin—are plunging. Starting 2017 at under $1,000, the price of Bitcoin rose gradually until around October, when the price began to skyrocket to a peak of $19,343.04 on December 16, 2017. Since then, the price has plummeted in a series of volatile slides, landing at a low just below $6,000 at the time of this article’s writing (it has since bounced back up to just over $8,000). Other cryptocurrencies, including newcomers like Ethereum, Ripple, Cardano, and Litecoin, are experiencing plunges as well, though none as…

This story continues at The Next Web

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