2 reasons why Bitcoin and other crypto just crashed
It was a sea of red in the crypto industry as Bitcoin price dropped below $100,000 briefly and the crypto fear and greed index moved from the extreme greed zone of 88 to 69. So, why did crypto crash this week?
Bitcoin (BTC), he largest cryptocurrency, was trading at $102,300 on Dec. 19, while Ethereum (ETH) dropped to $3,600. Some of the top laggards were coins like Cosmis, Floki, THORChain, Curve DAO Token, and Fantom.
Crypto crashed because of the Fed decision
The most important reason why the crypto crash happened is the Federal Reserve decision. The bank decided to cut interest rates by 0.25% as was widely expected. That cut brought the cumulative cuts this year to 1%.
However, the Fed signaled that it…
