Reason Behind Bitcoin Recent Price Drop

Reason Behind Bitcoin Recent Price Drop

By HowToVids | Crypto Blockchain News | 18 Dec 2019


Its normal in stock exchange that the prices of currencies goes up and down according to the fluctuation of the market, although that has the reason always. But some time a certain big change of price rise different questions and doubts in the fall or rise of the price. Same is the case with recent crypto prices fall. A quick fall in prices forced to think about that. News is circulating that its not confirmed, may be one of the reason as it's due to Plus Token Ponzi Scheme as mentioned by Chainalysis few days ago.

They Said in their report “Given this analysis and the effects we’ve observed so far, liquidations of large amounts of illicitly obtained funds are likely to drive down the price of cryptocurrencies,”.

More they said that“While we tracked $2 billion worth of various cryptocurrencies that victims sent to the PlusToken scammers, some of that money was paid out to early investors, presumably to maintain the illusion of high returns while PlusToken presented itself as a legitimate company,”.

In addition “Nonetheless, we’ve tracked roughly 800,000 ETH [$102 million] and 45,000 BTC [$302 million] we can definitively say the scammers transferred to their own addresses to launder,”.

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