What caused the black thursday in the cryptocurrency market?

3 answers

• hodzhakhovOct 22, 2022 · 3 years ago
  The black thursday in the cryptocurrency market was primarily caused by panic selling triggered by the global economic uncertainty due to the COVID-19 pandemic. Investors were concerned about the impact of the pandemic on the economy, leading to a massive sell-off across various asset classes, including cryptocurrencies. The sudden drop in demand resulted in a sharp decline in cryptocurrency prices, causing the black thursday crash.
  436

  218
• Om ChandraJan 01, 2024 · 2 years ago
  Black Thursday in the cryptocurrency market was a result of a perfect storm of events. It was a combination of panic selling, margin calls, and a lack of liquidity. The COVID-19 pandemic created fear and uncertainty in the global economy, which led to a massive sell-off in all markets, including cryptocurrencies. As prices started to plummet, margin calls were triggered, forcing traders to sell their positions to cover their losses. The lack of liquidity further exacerbated the situation, causing a rapid and significant drop in cryptocurrency prices.
  556

  186
• FelixDonosoApr 02, 2023 · 3 years ago
  The black thursday crash in the cryptocurrency market was a result of a cascading effect. It started with panic selling triggered by the global economic uncertainty caused by the COVID-19 pandemic. As prices started to drop, stop-loss orders were triggered, leading to more selling pressure. Additionally, margin calls were triggered, forcing leveraged traders to sell their positions. The combination of panic selling, stop-loss orders, and margin calls created a downward spiral, resulting in the black thursday crash.
  520

  130