Cryptocurrency prices today crashed, with altcoins such as Cardano and Avalanche falling more than bellwether Bitcoin.
Dogecoin, Shiba Inu tanked nearly 10% each while other tokens like Avalanche, Cardano, Solana, Terra, XRP were trading with cuts in the range of 6-11% over the last 24 hours.
Bitcoin, the largest cryptocurrency by market value, may tumble to $30,000 by June, as per Arthur Hayes, the co-founder of crypto trading platform BitMEX.
Investors are selling cryptocurrencies ahead of the mid-April tax deadline in the US, as per David Duong, head of institutional research at Coinbase Global Inc., who is seeing a repeat of trends that also played out in 2021.