Why is the crypto market down today?

Cointelegraph

Published Sep 23, 2022 12:32PM ET

Updated Sep 24, 2022 04:20PM ET

Crypto prices keep falling, but why? This year’s market crash has turned most winning portfolios into net losers, and new investors are probably losing hope in Bitcoin (BTC).

Investors know that cryptocurrencies exhibit higher than average volatility, but this year’s drawdown has been extreme. After hitting a stratospheric all-time high at $69,400, Bitcoin price crumbled over the next 11 months to an unexpected yearly low at $17,600.

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