Over $500 billion was lost in market capitalization by the cryptocurrency market on Friday. As top crypto assets suffered heavy losses, the market chaos led to a total liquidation of $700 million. (BTCWhile ) dropped below the critical support level at $40 000, Ether (ETHAlso, he also lost $3000 support.

Many theories have flooded the web to explain the crash, even though crypto advocates are still debating whether it has reached a bear stage. Three theories are cited as the reason for the crash of crypto markets.