Bitcoin collapses $22,000, Ethereum plunges 10%… What is the cause?

picture explanation[사진 출처 = 픽사베이]

Bitcoin fell below $22,000 for the first time this month. Ethereum, too, has fallen by more than 10% and is churning sharply.

According to CoinMarketCap on the 20th, as of 11 am (Korean time) on the 20th, Bitcoin is trading at $21,021, down 7.67% from 24 hours ago.

For the first time this month, Bitcoin has fallen below $22,000. By the 15th of this month, Bitcoin has risen to $25,200. It broke the $25,000 mark for the first time in two months since mid-June.

Ethereum, the second largest in terms of market capitalization, also plunged 10.64% from the previous day to $1620 at the same time.

Recently, Ethereum even surpassed $1,900 before the system upgrade, but it soon collapsed below the $1,700 level.

The cause of the sharp decline of these cryptocurrencies was not known, but some raised the possibility of a large-scale sell-off.

Susanna Streeter, senior market analyst at Hargreaves Lansdowne, a brokerage firm, said, “It doesn’t seem like a sudden drop.”

[김정은 매경닷컴 기자]
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