Cryptocurrencies had a massive drop in value on Wednesday, and it might be some time until the values rise again.
Bitcoin, Dogecoin, Ethereum all drop
- CoinDesk reported that Bitcoin, Ethereum, XRP, Binance Token, Internet Computer Token and many other cryptocurrencies had massive drops.
- Even Dogecoin dropped from $0.48 to $0.21 in a 24-hour period, according to CoinDesk.
Will cryptocurrency rise again?
- “You had a confluence of events ... where you started breaking down the positivity in the price action, and now we’ve got a liquidation event,” Novogratz told CNBC. “It’s not going to bounce right back. It’ll consolidate for a while.”