Cryptocurrencies Experience Another Decline

🟠 The cryptocurrency market has experienced another drop. Several days of calm price activity ended on Thursday afternoon when cryptocurrencies suddenly plummeted. Bitcoin reached its lowest level since the market panic in early August. Other major cryptocurrencies also saw sharp declines.

🟠 The trigger for the sell-off was the decision by the German government to begin selling the first of its 50,000 bitcoins that were seized as part of a criminal investigation. The second major decline occurred about two weeks ago, when the Bank of Japan raised interest rates, triggering a global drop in stock markets. Currently, there is no obvious catalyst for the sell-off. U.S. stock markets are rising again.