Bitcoin BTC/USD and Ethereum ETH/USD were trading over 4% and 5% lower, respectively, on Monday. The move lower is the continuation of a downtrend, which escalated on May 5.
Since that date, Bitcoin has plunged over 18% and Ethereum has plummeted about 19%, as fear of a recession has gripped traders and investors, causing an accelerated move to the downside.
A recession takes place when economic activity begins to decline due to people deciding to spend less money and save more. Rising…
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