Why Bitcoin, Ethereum, and Other Cryptocurrencies Suddenly Crashed Friday Afternoon

A massive sell-off on Friday in the cryptocurrency market accelerated after the stock market closed on Wall Street. The selling seems to be feeding on itself, causing panic across the market. 

Altcoins are down big today with some trading more than 30% lower, but the drops in giants like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are staggering. As of 5:45 p.m. ET, Bitcoin is down 10.8% in the last 24 hours and 5.4% in just the last hour and a half to $35,724. Ethereum is down 16.8% in the last day and 6.9% in the last 90 minutes to $2,512. 

Cardano (CRYPTO: ADA) has also tumbled 13.4% in the last 24 hours while Solana (CRYPTO: SOL) is down a whopping 19.1%. Down the altcoin list, there's rapid selling heading into the weekend. 

Continue reading

Source Fool.com