The cryptocurrency market is experiencing a catastrophe today, on the 6th of September. Digital coins are collapsing in price, leaving investors in awe and disbelief. What might have happened?
As we reported earlier, many people believe that Goldman Sachs has way more control over cryptocurrencies that it might seem. Here is another proof for the theory. The bank made an announcement which stated that they would not open a Bitcoin and altcoins trading desk anytime soon due to the difficulties with the regulatory framework and more urgent issues that needed to be dealt with first. What do we see next? Bitcoin loses 12.45% and costs $6452.
As for Bitcoin Cash, this coin broke all the records and fell by 20.02% with a current price of $502.The reasons for its collapse might be the stress test conducted by BCH team. The test was initially planned for only 24 hours, but enthusiastic users kept flooding the network which might have influenced the price of the coin.
The rest of the coins followed the downward trend:
Ethereum lost 20.35% and costs $226;
Stellar lost 12.94% and costs $0.2;
Cardano lost 20.21% and costs $0.08;
IOTA lost 22.01% and costs $0.55;
Monero lost 18.65% and costs $112.61.
Tether is one of the few cryptocurrencies that grew in price. It added 0.33% and costs $1.
Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/