The outbreak of Covid-19 has had a significant impact on the cryptocurrency market. The price of Bitcoin, the largest and most well-known cryptocurrency, fell by over 50% in a matter of weeks.
Impact of Covid-19 on Cryptocurrency
There are a number of potential explanations for why the cryptocurrency market was so affected by the outbreak of Covid-19. One possibility is that investors were seeking to sell assets that were seen as riskier in a time of economic uncertainty. Another possibility is that the Chinese government, which has been cracking down on cryptocurrency trading, increased.
