Bitcoin and other cryptocurrencies have fallen sharply after seeing record-highs just last week.
Bitcoin’s price plunged to $58,400 (€51,000) on Tuesday and hovered just under the $60,000 (€53,000) threshold on Wednesday as the crypto market is again becoming a sea of red.
It marks a 12 per cent drop from the record high of $69,000 (€61,000) set on November 10.
The second-largest crypto Ether meanwhile plunged more than 14 per cent since its record last week to reach $4,244 (€3,7500).
The reasons why cryptos have been so volatile of late is unclear but there are a number of factors at play.
One reason may be due to market manipulation, argues David Gerard, the author of the book Attack of the 50 Foot Blockchain. And it is all to do with Tether,
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