Cryptocurrency prices have cratered in recent weeks, erasing much of the meteoric rise recorded over the months following the election of President Donald Trump . The price of bitcoin has plummeted by nearly a third since a recent peak in October, registering at about $86,340 on Monday. Ethereum, the second largest cryptocurrency, has plunged even further, dropping 40% since last month. The total value of cryptocurrency – as measured by market capitalization – has dropped more than $1 trillion over that period, Jim Reid, a research strategist at Deutsche Bank, said in a memo to clients on Monday. Here’s what to know about what’s driving the selloff and where crypto is headed next: How far have crypto prices fallen? The election of Trump, who dubbed himself the “first crypto president,” set
What to know about the crypto selloff
ABC News1 hrs ago
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