Bitcoin and crypto currencies

Bitcoin, down currently by 13.93% today, is leading the crypto market in a meltdown, for reasons currently unknown. Losses are across the board, with some lesser cryptos having larger falls in percentage terms

It may be coincidence that the trading of Bitcoin futures just commenced on the BAKKT Exchange.

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Bitcoin and crypto currencies falling across the board

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Bitcoin, down currently by 13.93% today, is leading the crypto market in a meltdown, for reasons currently unknown. Losses are across the board, with some lesser cryptos having larger falls in percentage terms.

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It may be coincidence that the trading of Bitcoin futures just commenced on the BAKKT Exchange. Some are speculating that traders are cashing out profits, but  that does not account for such large falls across the board on my view.

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Bitcoin (BTC) , the elephant on the room has fallen nearly 14% in 24 hours, Ripple (XRP) 12%, Bitcoin Cash (BCH) 24.12%, Litecoin (LCH) 18%, and Bitcoin SV (BSV) some 25%.

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We continue to watch with interest for any informed reason for this meltdown.

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