I think the market crash is based on the chinnese new year. When there are holidays people are more likely to cash out inorder to spend on gifts and celebration. This is relavent because most crypto is held in asia and if they sell there is bound to an impact in the market.
Why I think this is the case is simply because if you log on to http://fiatleak.com its a website that tracks new money coming into crypto you'll find its mostly usd are coming in.
I think the crypto will stabalise after the holidays in Asia and we'll see more different currencies coming in the space.
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I think so too. I ll have a look at that website too. thanks for clarifying things.
Ive seen this theory that the Chinese New Year is the reason for the lack of other fiat currencies entering the pool, could it also be that those are the Govts that have spoken out about legislation and banning? Then there still may not be the injection needed from the Asian countries post Chinese NY? Or what do you think?
Interesting ... I didn't know about fiatleak.com . I ll check it out.