{"id":944,"date":"2021-12-06T04:03:02","date_gmt":"2021-12-06T04:03:02","guid":{"rendered":"http:\/\/egrowonline.com\/?p=944"},"modified":"2021-12-06T04:03:02","modified_gmt":"2021-12-06T04:03:02","slug":"why-did-crypto-markets-plummet-on-saturday-december-4-2021","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=944","title":{"rendered":"Why Did Crypto Markets Plummet on Saturday, December 4, 2021?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"bitco-below-content\" style=\"margin-top: 5px; margin-right: 5px; margin-bottom: 5px; margin-left: 5px; \" id=\"bitco-1069739891\"><a target=\"_blank\" href=\"https:\/\/bit.ly\/HuobiAd\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" alt=\"\" width=\"728\" height=\"90\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?w=728&amp;ssl=1 728w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=300%2C37&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=696%2C86&amp;ssl=1 696w\" data-lazy-sizes=\"(max-width: 640px) 100vw, 640px\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?fit=728%2C90&amp;is-pending-load=1#038;ssl=1\" class=\" jetpack-lazy-image\"\/><noscript><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?fit=728%2C90&amp;ssl=1\" alt=\"\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?w=728&amp;ssl=1 728w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=300%2C37&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=696%2C86&amp;ssl=1 696w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" width=\"728\" height=\"90\"\/><\/noscript><\/a><\/div>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"360\" alt=\"\" class=\"wp-image-15924 jetpack-lazy-image\" data-recalc-dims=\"1\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?w=863&amp;ssl=1 863w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=300%2C169&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=768%2C433&amp;ssl=1 768w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=696%2C392&amp;ssl=1 696w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=746%2C420&amp;ssl=1 746w\" data-lazy-sizes=\"(max-width: 640px) 100vw, 640px\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=640%2C360&amp;is-pending-load=1#038;ssl=1\"\/><noscript><img decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=640%2C360&amp;ssl=1\" alt=\"\" class=\"wp-image-15924\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?w=863&amp;ssl=1 863w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=300%2C169&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=768%2C433&amp;ssl=1 768w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=696%2C392&amp;ssl=1 696w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg?resize=746%2C420&amp;ssl=1 746w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" data-recalc-dims=\"1\"\/><\/noscript><\/figure>\n<p>Saturday, December 4, 2021, was a tough day for most crypto holders as they witnessed their beloved digital currencies shed a lot of value in just a few hours. Not that this was unexpected, after all, volatility is the name of the game. <\/p>\n<p>Basically, here is what happened:<\/p>\n<ul>\n<li>Bitcoin lost over 20% or 1\/5 of its value in the course of the day<\/li>\n<li>BTC  hit below $42, 000, the lowest point in weeks, after hitting ATH of $69, 000 not long ago on 10th November 2021<\/li>\n<li>ETH was reported to have lost 10% of its value during the same day<\/li>\n<li>Market cap of coins listed on CoinGecko plummeted by about 15% during the day, hitting $2.34 trillion<\/li>\n<\/ul>\n<p>Saturday\u2019s sharp drop reportedly follows a tough week for financial markets in the United States. <\/p>\n<p>According to a Reuters report, global equities and benchmark U.S. bond yields tumbled on Friday, December 3, 2021, after government reports showed that jobs growth had slowed in November 2021. <\/p>\n<p>The markets were also triggered by the Omicron variant of coronavirus that has caused panic among investors globally. <\/p>\n<p id=\"block-ca3879f8-8c90-4542-b4ba-d20e447eed71\">____________________________________________________________<\/p>\n<p id=\"block-b07fba7e-352d-42c4-bc57-03c207a7e54b\"><strong>SEE ALSO<\/strong>:\u00a0<a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/bitcoinke.io\/2021\/09\/cbn-to-introduce-e-naira-wallets\/\">Bitcoin, Ethereum Hit All-Time Highs<\/a><\/p>\n<p id=\"block-255c4119-9e51-469b-99a3-855ea6eb8431\">___________________________________________________________________<\/p>\n<p>With bitcoin seemingly unsettled by similar trends as the financial market, famous skeptic, Nassim Taleb,  one again got fodder to attack the leading crypto: <\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" alt=\"\" class=\"wp-image-15895 jetpack-lazy-image\" width=\"311\" height=\"518\" data-recalc-dims=\"1\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?w=468&amp;ssl=1 468w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?resize=180%2C300&amp;ssl=1 180w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?resize=252%2C420&amp;ssl=1 252w\" data-lazy-sizes=\"(max-width: 311px) 100vw, 311px\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?resize=311%2C518&amp;is-pending-load=1#038;ssl=1\"\/><noscript><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?resize=311%2C518&amp;ssl=1\" alt=\"\" class=\"wp-image-15895\" width=\"311\" height=\"518\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?w=468&amp;ssl=1 468w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?resize=180%2C300&amp;ssl=1 180w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image822196870-1638650791369.jpg?resize=252%2C420&amp;ssl=1 252w\" sizes=\"auto, (max-width: 311px) 100vw, 311px\" data-recalc-dims=\"1\"\/><\/noscript><figcaption><em>Nassim Taleb on Twitter <\/em><\/figcaption><\/figure>\n<p>Risky tech stocks were among the biggest losers on Wall Street on Friday, with Tesla shedding 6%. The ARK Innovation fund lost 5% on Friday and 12% on the week. This likely translated to a bearish landscape over to the crypto sphere. <\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" alt=\"\" class=\"wp-image-15897 jetpack-lazy-image\" width=\"333\" height=\"417\" data-recalc-dims=\"1\" srcset=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?w=473&amp;ssl=1 473w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?resize=239%2C300&amp;ssl=1 239w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?resize=335%2C420&amp;ssl=1 335w\" data-lazy-sizes=\"(max-width: 333px) 100vw, 333px\" src=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?resize=333%2C417&amp;is-pending-load=1#038;ssl=1\"\/><noscript><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?resize=333%2C417&amp;ssl=1\" alt=\"\" class=\"wp-image-15897\" width=\"333\" height=\"417\" srcset=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?w=473&amp;ssl=1 473w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?resize=239%2C300&amp;ssl=1 239w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/image_editor_output_image-1555820979-1638651305090.jpg?resize=335%2C420&amp;ssl=1 335w\" sizes=\"auto, (max-width: 333px) 100vw, 333px\" data-recalc-dims=\"1\"\/><\/noscript><figcaption><em>Biance Founder, CZ, on Twitter<\/em><\/figcaption><\/figure>\n<p>For some, such as Binance\u2019s billionaire founder, the bear market is yet another opportunity to buy the dip.<\/p>\n<p>Interestingly, ETH continues to gain growth and traction.<\/p>\n<p>As of this writing, the price of ETH now needs to just <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/www.marketcapof.com\/ethereum\/bitcoin\" data-type=\"URL\" data-id=\"https:\/\/www.marketcapof.com\/ethereum\/bitcoin\">grow by 1.88x to flip bitcoin<\/a>. This is the closest we have come to a flip.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"596\" height=\"291\" alt=\"\" class=\"wp-image-15925 jetpack-lazy-image\" data-recalc-dims=\"1\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?w=596&amp;ssl=1 596w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?resize=300%2C146&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?resize=533%2C261&amp;ssl=1 533w\" data-lazy-sizes=\"(max-width: 596px) 100vw, 596px\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?resize=596%2C291&amp;is-pending-load=1#038;ssl=1\"\/><noscript><img decoding=\"async\" loading=\"lazy\" width=\"596\" height=\"291\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?resize=596%2C291&amp;ssl=1\" alt=\"\" class=\"wp-image-15925\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?w=596&amp;ssl=1 596w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?resize=300%2C146&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/12\/ETH-Flipping-Bitcoin.jpg?resize=533%2C261&amp;ssl=1 533w\" sizes=\"auto, (max-width: 596px) 100vw, 596px\" data-recalc-dims=\"1\"\/><\/noscript><\/figure>\n<p> ___________________________________________________________________ <\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><strong>RECOMMENDED READING<\/strong>:<a target=\"_blank\" href=\"https:\/\/bitcoinke.io\/2021\/10\/bitcoin-futures-etf-approved\/\" rel=\"noopener\"> [WATCH] The First Bitcoin Futures ETF Gets Approval from the U.S. Securities and Exchange Commision!<\/a><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">___________________________________________________________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">Thank you for your support by helping us create content:<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><strong>BTC address<\/strong><em>: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT<\/em><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">____________________________________________________________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><em>Follow us on\u00a0<a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/twitter.com\/BitcoinKE\">Twitter<\/a>\u00a0for latest posts and updates<\/em><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><em>Join and interact with our\u00a0<a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/t.me\/bitcoinKE\">Telegram community<\/a><\/em><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">_____________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">Subscribe to the channel below to keep updated on latest news on video:<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Risks and Growth of Cryptocurrencies in Africa\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/bpFcOr8oZcU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure>\n<p>____________________________________________________________________<a target=\"_blank\" href=\"https:\/\/bitcoinke.io\/\" rel=\"noopener\"><\/p>\n<div class=\"bitco-after-content\" style=\"margin-top: 5px; margin-right: 5px; margin-bottom: 5px; margin-left: 5px; \" id=\"bitco-373683725\"><a target=\"_blank\" href=\"https:\/\/bit.ly\/HuobiAd\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" alt=\"\" width=\"728\" height=\"90\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?w=728&amp;ssl=1 728w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=300%2C37&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=696%2C86&amp;ssl=1 696w\" data-lazy-sizes=\"(max-width: 640px) 100vw, 640px\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?fit=728%2C90&amp;is-pending-load=1#038;ssl=1\" class=\" jetpack-lazy-image\"\/><noscript><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?fit=728%2C90&amp;ssl=1\" alt=\"\" srcset=\"https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?w=728&amp;ssl=1 728w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=300%2C37&amp;ssl=1 300w, https:\/\/i2.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Huobi-Banner-Ad-1.jpg?resize=696%2C86&amp;ssl=1 696w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" width=\"728\" height=\"90\"\/><\/noscript><\/a><\/div>\n<p><!-- AI CONTENT END 1 -->\n        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/bitcoinke.io\/2021\/12\/why-did-crypto-markets-plummet-on-december-4-2021\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saturday, December 4, 2021, was a tough day for most crypto holders as they witnessed their beloved digital currencies shed a lot of value in just a few hours. Not that this was unexpected, after all, volatility is the name of the game. Basically, here is what happened: Bitcoin lost over 20% or 1\/5 of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[62,806,89,984,899],"class_list":["post-944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-crypto","tag-december","tag-markets","tag-plummet","tag-saturday"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/12\/The-Bitcoin-Market.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=944"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/944\/revisions"}],"predecessor-version":[{"id":946,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/944\/revisions\/946"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/945"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=944"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}