According to Time, the big drops this week to Ethereum and Bitcoin have followed a disappointing December jobs report, and the release of minutes from the Federal Reserve Board's December meeting, which signaled the central bank would begin slowing down measures to prop up the economy as it continues to improve.
Also, 18% of Bitcoins hash rate comes out of Kazakstan where the power went out January 5th for several hours due to the political turmoil which then caused an approx 12% drop in BTC price then it was downhill from there.
Basically, fear over interest rates and turmoil in Kazakstan is storing up a lot of crap in the crypto world. Let’s get ready to get this party started!
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