Bitcoin Price Plummeted Right After Decline on US Stock Market

[cheezcarls]

“Chief analyst of eToro Mati Greenspan states that yesterday’s BTC plunge had seen a decline in the US stock market right before it, though BTC is not correlated with it.

Yesterday, the Bitcoin price plunged by over $1,000. Experts believe that this could have been caused by a poor start of physically settled BTC futures on the recently launched Bakkt. Apparently, investors saw that BTC was overvalued and started getting rid of it.

Another reason for the BTC decline was allegedly the 40-percent crash of Bitcoin hashrate that took place right before the price of the most valuable crypto crashed.

However, the Bitcoin bull Brian Kelly in his recent talk on CNBC said he believes in the long-term success of Bakkt BTC futures.“

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