There was no clear reason for the fall in prices. The first cryptocurrency plunged this weekend, according to various observers, by a failure of Chinese power plants, a more severe tone from the American regulator or simply by the exhaustion of a market that has been overperforming

The cryptocurrency leader saw its price fall to 51,708 dollars on Sunday, 20% below the all-time high reached Wednesday at 64,870 dollars. Giles Coghlan, an analyst at HYCM, explains that the causes of this plunge range from power cuts in China to the market's shortness of breath after the Coinbase IPO, to a possible tightening of the position of the American authorities.
Neil Wilson, an analyst at Markets.com believes that much of the decline can also be attributed to the speculation that surrounded the Coinbase IPO, and that is evaporating.
The arrival on Wall Street of one of the largest exchanges had led the cryptocurrency to its all-time high