Here are three possible reasons for the crypto market crash:
1). This happens every January. Evidence you ask? See below:
2). Chinese officials once again announced it would seek to increase its ban on cryptocurrency. It seems like every time there’s news like this out of Asia, the markets are sent into a downward spiral. Luckily for crypto investors, the markets has continued to rebound time and time again.
3). The Chinese also are converting back into fiat to make purchases for the Chinese New Year. Much like Christmas in the United States, this time of year is when the Chinese usually are liquidating to provide gifts.
When it’s all said and done, the market likely will bounce right back by the end of January and continue the upward momentum in February and beyond.