I would assume its not only because a expected tax law in the US, since that would only affect US citizens. May be the drop is caused by more rumors about crypto regulations on a international level, as it already happened a week ago or so. Did you see, both Hive and Steem dropped about 35% (!) in the past 24 hrs. BTC "only" 10%.
It is a concerning developement anyhow, and it shows once again, that cryptos are far from being reliable currencies, but rather a high risk speculative asset.
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Everything is risky. Cryptos were made to be decentralized. If this goes as described there will be privacy tokens like Monero that surge. This won’t just die out. Not a chance
Like the alcohol in the US in the 1920s - it didn't die out, but a lot of people went to jail over it.
but you know right that usa citizen most of the time dominance crypto market and this is the time which is not difference too ..they are profit out out from the crypto market which lead this huge down ..maybe this is the time of bear market
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Doubt it. The bear market being here I mean. This is BullMarket all over. Hive was under 20 cents just months ago. It’s not that weird to retrace. 20% moves in cryptos are like 3% moves in stocks. I don’t see a bear market like 2018/2019 here at all
what i can say it that was the effect still in crypto market because US control the whole crypto market still .. on the other hand you can say too that this was a big correction and may btc moving forward for new ath