In another volatile day, cryptocurrencies dropped rapidly on Tuesday, more than reversing Monday’s gains. In the last 24 hours, Bitcoin (CRYPTO:BTC) has fallen 3%, Ethereum (CRYPTO:ETH) is down 5%, and Dogecoin (CRYPTO:DOGE) has dropped 7.6%. Momentum also appears to be pushing these cryptocurrencies lower, so the fall may not be over yet.
As usual, regular volatility is likely the biggest driver with cryptocurrencies simply selling off as investors take profits. But there are some fundamental concerns that investors are likely worried about as well.