Why Bitcoin, Ethereum, and Dogecoin All Fell This Week
Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) are down 9.38%, 14.56%, and 17.44% respectively in the past seven days as of 9:00 a.m. EDT. They are now trading at $46,000.54, $3,378.97, and $0.2479 per coin respectively. After a record bull recovery, cryptocurrencies are witnessing significant fatigue amid more regulatory scrutiny, internal strife, and "altcoin rotation," which is similar to sector rotation for stocks.
Image source: Getty Images.
When Bitcoin's market cap approached $1 trillion, both governor Stefan Ingves of Riksbank (Central Bank) Sweden and governor Alejandro Diaz of Bank of Mexico criticized the currency as a stable medium of exchange, citing its significant trading volatility.
Source Fool.com
