Bitcoin dips to $9,663 on Bitfinex as the market goes down even further during this correction.
However, it seems doubtful that these developments alone would cause such widespread turmoil within the global markets. As ShapeShift CEO Erik Voorhees said earlier today, “there is not necessarily a ‘reason’” that markets rise and fall, which suggests that it might be futile to search for a definitive trigger.
When markets rise, and when they fall (crypto included), there is not necessarily a “reason.” Complex systems have emergent properties, and the true cause is a string of individual events so convoluted that no person could determine it.
— Erik Voorhees (@ErikVoorhees) January 17, 2018