Bitcoin is the most volatile cryptocurrency in the market and analysts say these kinds of downturns are pretty normal, considering the crypto market is now also following the price trends of the stock market.
Most governments are wary of the risks involved in investing in cryptocurrencies, hence, policymakers feel the need to explore the depths of the market and regulate it to make the market a safe place for the investors.
Financial experts believe that the crypto market is following the trends of the stock market, which also experiences a technology-led sell-off earlier this week amid big tech’s earning results.
Experts believe that if Bitcoin does not regain its lost market value, Ethereum might soon overtake BTC to become the largest cryptocurrency in the market.