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Cryptocurrency exchange rates dropped sharply on Monday, February 3. Vladislav Antonov, a financial analyst at BitRiver, explained to Mail Finance what is the reason for such a weakening of the "crypt".
"The cryptocurrency market collapsed on February 3 due to a complex of macroeconomic and market factors. The main trigger was the trade wars initiated by the Trump administration, which imposed duties of 25% on Canada and Mexico, 10% on China, and threatened 100% tariffs on the BRICS countries in case of abandoning the dollar," he said.
This situation, the analyst noted, provoked panic in traditional markets. Then the wave of sales spread to cryptocurrencies, causing massive liquidation of positions worth over $ 2 billion, especially for long positions in bitcoin. 5 replies
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