Cryptocurrency, like no other fiat currency, is subject to sharp fluctuations in the rate. The main reason is informational. However, one should not forget about institutional players, large investors, as well as cryptocurrency platforms with an impressive reserve of traditional fiat ones. Actions of such force can radically change not only the price but also change the places of currencies in the rating.
Impact of News
At the time of the news about the world of crypto, it is difficult to determine the truth by ear immediately: whether it is a false alarm provoked by a narrow circle of interested persons to quickly buy up a cheaper currency, or, on the contrary, to wrap existing assets in fiat money at a bargain price. Much excitement is caused by loud statements from governments about a new direction in the development of the digital coin, and vice versa, the cessation of injection into assets.