Crypto Flash Crash: What Caused Friday's Collapse
The crypto market took an absolute nosedive at 8:30 a.m. ET on Friday after the stock market opened. Bitcoin (CRYPTO: BTC) has fallen over $4,000 in value to $66,440 as of 3:15 p.m. ET, Ethereum (CRYPTO: ETH) is off 9% over the same time to $3,216, and Dogecoin (CRYPTO: DOGE) plunged 14.2%.
While the decline started early on Friday, it accelerated around noon ET -- that's when small declines became double-digit losses for many cryptocurrencies.
There weren't any major news items out of the crypto world today, but this kind of volatility can often hit at the end of the week or on the weekend. And for the first time in a while, that's what we got today.
Source Fool.com
