Bitcoin and other cryptocurrencies are in a downward spiral. Why?


It hasn’t been a great few months for cryptocurrency owners.

Bitcoin, Ethereum, and basically every other major cryptocurrency are sharply lower on Monday, with Bitcoin trading at one point near $23,500, a level not seen since December 2020. Ethereum fared similarly after touching the $1,180 price and erasing all gains since January 2021. Prices have recovered slightly in the past few hours, but everything is still sharp red.

Worse, Bitcoin, Ethereum and others…

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