Opinion: November 18, 2021. The Cryptocurrency Market Capitalization Crashed. What Could be the Cause?

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The cryptocurrency market capitalization crashed today to about 2.6 trillion US$. Although the steepest dropped occurred in the last 24 hours, it has been falling for at least 4 days when it was at 3 trillion US$ and compared to 3.08 trillion US$ of 10 days ago.

There is no consensus as of what the reason could be, however, the most certain culprit could be the fact that the IRS will monitor more closely the cryptocurrency trading. This certainly may have spooked certain investors and they may have taken their profits.

Bitcoin is trading at 56K USD and ether at 4K US$.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.


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2 comments
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This could be alarming news for many investors! But hopefully this problem will go away quickly!

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Hopefully this issue will be dealt with as soon as possible. Thanks for sharing and have a wonderful day

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