Why Crypto Market Crash??

As the crypto investment is being recently more active in this later period.Lots of people invested in cryptocurrency during this pandemic and came to know about the knowledge of cryptocurrency. the more people investing and increase in the supply of the cryptocurrency made it to the crash in the cryptomarket several times.

The Indian cryptocurrency exchange and trading platform Wazirx had a major crash in the last three weeks due to their increase in investors and to manage the network from the partnered banks and the banks stopped working and it affected the investors which was mentioned by the CEO and Founder Mr.Nischal in the recent interviews.

The most major reasons for the cryptomarket crash,

1. Ban of cryptocurrency in china to accept of payments.

China extending its crypto ban to include banks and payments companies furthered a selloff that briefly wiped $1 trillion off crypto market capitalisation

Read more at:
https://economictimes.indiatimes.com/tech/tech-bytes/china-crypto-ban-bitcoin-players-shrug-off-beijings-latest-crackdown/articleshow/82804503.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

2. Elon musk tweet about tesla suspended bitcoin for purchasing.

3. Panic selling of the investors in the cryptocurrency.

Source:Times of India