Cryptocurrencies had a difficult week. After starting on an upbeat trend, with Bitcoin soaring to a multi-month high of $52,000, cryptocurrencies lost more than $300 billion worth of value. A closer look shows that most cryptocurrencies like Bitcoin, Ether, Cardano, Ripple, and Chainlink have dropped by more than 10% in the past seven days. But some tokens managed to buck the trend. Let us look at the main reasons why cryptocurrency prices crashed and those that soared.
Other notable cryptocurrencies that bucked the trend this week were Near Protocol, Quant, Elrond, and Harmony One.
Contributors
Writer
Crispus is a financial analyst with over 9 years in the industry. He covers cryptocurrencies, forex, equities, and commodities for some of the leading brands. He is also a passionate trader who operates his family account. Crispus lives in Nairobi with his wife and son.
