Biggest Drop Since February Rattles Crypto Community
20 Apr, 2021 CryptoParrot
Is the Crypto Rally at its end?
Just like that, it was over. The rally that has been turning heads and pumping cryptocurrency hype on the news since the beginning of the year has finally met a clear stop sign. Over the weekend, almost all cryptocurrencies had fallen victims to what insiders have been calling "the Coinbase hangover".
According to specialists, this massive drop market-wise has been a product of a massive pump caused by the listing of $Coin at the stock exchange, creating some sort of "mini-bubble" that ramped up the prices until the day of listing and finally burst once the newbie factor wore the crypto-related stock out.
BTC Takes the Hit
BTC took the most of the hit, dropping more than 15% over the weekend, falling from an all-time high of over $64,000 to the $56,000 resistance this Monday morning. Ethereum's ETH has also lost its ATH level above $2,400 and, after dipping below 2k is now slowly recovering its footing.
Surprisingly, the only crypto to withstand the bloodbath was Dogecoin. Even though it suffered a similar drop to other currencies, the meme-token has quickly recovered, and it is still breaking one ATH after another today.
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