Why is crypto down
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James Surowiecki: How crypto disappeared into thin air Bitcoin down in America Cryptocurrency is all the rage among people these days, especially the younger demographic. Everyone wants a piece of it, or at least dabble in the space to spur their curiosity. But, what is cryptocurrency? How does it work and how do you get to own it? These are some of the basics questions that we try to answer over here so that more people know more about it, and make a sound decision based on facts rather than any marketing gimmick. Here is everything from A to Z you need to know about cryptocurrency.
Why is bitcoin down
Ethereum has seen a significant increase in demand over the past few months due to its growing popularity as the world's second-largest blockchain project. With such high demand, the developers of Ethereum have devised a plan to increase its scalability. However, it is expected that Ethereum will delay the introduction of sharding. Sharding is the process of dividing the blockchain into smaller components that can be processed simultaneously. This would significantly increase the speed at which transactions are completed on the Ethereum network. However, it remains to be seen when this technology will be implemented. Crypto Crash: Digital currencies lose more than $200B in one day Separately, on Friday morning the Federal Deposit Insurance Corporation closed Silicon Valley Bank and took control of its deposits, making it the largest U.S. bank failure since the global financial crisis. The bank's parent company, SVB Financial, said late Wednesday that it sold off $21 billion worth of its holdings at a $1.8 billion loss. SVB was a major bank in the technology start-up space.
Why Is Crypto Down Today?
The decision by Tesla, and announced by Musk, was seen by some as a slight on the credibility of cryptos to become a viable method of payment against physical currencies. 'Watershed moment' “Regulators don’t like crypto and even the word decentralization makes them nervous, however, they’re not stupid — they’ll know that no amount of opaque legalese and strongarming will make crypto go away,” said Vadim Yarmak, the CEO of blockchain marketing firm PRMR.
Why is cryptocurrency down
“It might be that bitcoin, as a non-sovereign issued store of value, is seen as a valid investment option for those seeking to insulate themselves from the machinations of politicians and monetary policy setters,” he wrote in a note published on April 21. No Items in Watchlist Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.