Crypto’s black Wednesday: Where do we go from here?

Cryptocurrencies are notoriously volatile, but even seasoned traders were taken aback by the price action on Wednesday and Thursday. 

Bitcoin is down roughly 15% compared to the day before and is trading at $5,380 on Coinbase at writing time. Ethereum fared even worse, dropping roughly 17% to $171 and losing the position of the second largest coin by market cap to Ripple, which is also down more than 10% in the last 24 hours. 

We’ve seen sharp price drops like these before, but this selloff is notable for several reasons. For one, it came after nearly three months of relative stability in the crypto market; some even pointed out that Bitcoin has become more stable than some of the stocks listed on Nasdaq.  Read more…

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