This happened yesterday after the most popular Cryptocurrency called Bitcoin rised in price up to $19,500 and the most popular smart contract host Etheruem Blockchain with it's Known Etheruem also rised up to $617 and most of us bought it hoping it will rise up to $1000 but it failed.
So why did these Cryptocurrencies crushed significantly at high speed which less most of the Coins lost 40% of it's rised price, what is cause and why it happened.
This happened because most time when the Coins and Token raise in price and most cases like this time around this leads to high exchange of the these Coins and Tokens for the advantage of the price to take profits and this is called bump and dump. When this happen the Market Maker gets the alert and it will make the price drop.
This is simple let's take an example incase of high demand of toilet paper just recently in the covid-19 crises, the price of the toilet paper rose up significantly but the toilet paper were in the market but because the buying was high or demand and the supply was low so it led rise of price of the toilet paper but after some few weeks the price drop again to normal and this was so because the supply was increased and met the demand ok let's stop there hope everyone now understand now let continue.
So why did the Coins and Tokens price drop this week mostly yesterday hope now you know the answer already but don't worry the price will rise again because people are buying the Coins and Tokens now in large number and after that the Market Maker will again notice that large buying has stop and the price will rise again to create again demand in people to buy again .
So hope know you know why the price keep crushing and rise again in Cryptocurrency market.✌️