Why is crypto going down

Why is crypto going down

 Cryptocurrency a digital currency is said to have being on the rise since 2020 ending even as at the beginning of 2021 it's price turn a wonderful dimensions almost doubling the price of it's original amount in 2020 but recently from march 2021 the price of all cryptocurrency in the crypto-sphere were going down and it seems not to have recovered, so that brought curiosity and doubt to many people. Here i will share with you why cryptocurrency is going down.

Why is crypto going down today

  • The very first reason why crypto started dropping is after the Nigeria Government place ban on cryptocurrency trading on its citizens because they sees cryptocurrency as unlegit business that as no constant price. Aside that, fraudster and many companies uses it in ripping people off their hard earned money all in the name of doubling their coins.

  • Second reason why crypto is going down is after the owner of Tesla car company known as Elon Musk announced to it's customers they his vehicle company no longer accept bitcoin as means of payment.

  • Third reason why crypto is going down is simply because the china government too said they will block initial coin offerings, block exchanges and warned against speculative trading. So the citizens of china are afraid and many of them have started losing interest in cryptocurrency thus making them to exchange their coins for money.

That are the reasons why cryptocurrency is going down.

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