23 April 2021, 07:04 pm
(Photo : Screenshot From Pexels Official Website) Crypo $300B Market Dump was Caused by Traders Fearing Increased Capital Gains Tax
Traders fearing the increase in total capital gains tax in the United States have caused crypto to massively drop. An investment manager even notes that sellers probably jammed the whole market as bids started to disappear.
Crypto Market Value Drop
The total value of the crypto market has reportedly declined by hundreds of billions of dollars this Friday but still seems to be recovering nearing the close of the business week, according to a Tweet by CoinDesk. The price of bitcoin reportedly fell over the course of the past 24 hours. The asset reportedly dipped as low as $47,875 at around 4 AM ET according to CoinDesk 20 data.