Cryptocurrencies have fallen by over 20% since the start of October.
Bitcoin and other cryptocurrencies have been hit hard in recent weeks, with prices falling by more than 20% since the start of October. This is down to a number of factors, including US regulators’ crackdown on cryptocurrency exchanges and fears that a Bitcoin exchange-traded fund (ETF) will not be approved by the US Securities and Exchange Commission (SEC). However, there are also concerns that this is just part of a longer-term trend that has seen the value of cryptocurrencies fall from their peak in January 2018.
What is causing crypto prices to fall?
The main reason for the fall in cryptocurrency prices is concern over regulatory changes in major markets. The US SEC recently rejected nine Bitcoin ETF applications from three different companies, which has led to speculation that it will reject further applications. This news comes after it was revealed that two major cryptocurrency exchanges had been hacked earlier this year.
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