CRYPTO INSIDER: The bloodbath continues

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The cryptocurrency sell-off has become being known as a “bloodbath” by commentators while it enters a 3rd straight day\’s declines. Listed below are every one of the theories explaining the crash.

Here are definitely the current standings since midday Wednesday:

  • Bitcoin (BTC): $10,309 (-9.1%)
  • Ethereum (ETH): $904 (-15.0%)
  • Ripple (XRP): $1.04 (-9.5%)
  • Bitcoin Cash (BCC): $1,581 (-10.4%)
  • Litecoin (LTC): $170 (-9.1%)

What’s happening:

  • Bank of America CEO Brian Moynihan said using a call with reporters that customers were this is buy bitcoin in other accounts – just through Merrill Lynch, the bank’s wealth management arm.
  • Cryptocurrencies are tanking, but long-term investors may see this before. In fact, right here is the third year successively that bitcoin – plus the overall market for digital coins – has plunged in the 2012.
  • The Winklevoss twins may see about $600 million wiped off their bitcoin wealth in barely A few days.
  • The massive amounts of electricity necessary to mine bitcoin will benefit these 5 stocks, Morgan Stanley says
  • Companies that pivoted to crypto will also be getting whacked amid the sell-off.
  • Ripple\’s cofounder often have lost nearly $12 billion as XRP will continue to slide.
  • Finally, a startup that wishes for being the Airbnb for ones stuff raised $25 million within a cryptocurrency and funds fundraising round.
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