Bitcoin’s Plunge Due to Traditional Markets Falling or PlusToken Dumping?

Some authorities think current traditional market instability lies behind Bitcoin’s (BTC) recent plunge, while others feel the alleged PlusToken scam is the cause. 

Bill Herrmann, CEO of alternative investment banking firm Wilshire Phoenix, believes Bitcoin’s recent bearishness is simply due to traditional market instability. “The recent drop in the price of bitcoin is a result of the sudden and fierce decline among most asset-classes over the last several weeks,” he told Cointelegraph, adding:

“In times of extreme volatility, which is often followed by panic — most retail investors, whether it’s Bitcoin or in equities, sell first and ask questions later. Investors needed to raise cash and quickly — so everything was sold. I think that once the dust settles, Bitcoin and some other assets will be on sale.”

A number of factors have caused market uncertainty

Over the past several weeks, mainstream markets have been plagued with fear, uncertainty and doubt — partially…