The price of Bitcoin has gone down by about 5%, for example, in just the past 24 hours. Specifically, its market cap has declined from $1.17 trillion 24 hours ago to $1.15 trillion at press time, which represents a 1.63% drop in the past day, according to the latest data retrieved by Finbold from the crypto monitoring platform CoinMarketCap on August 16. Although the barrier of entry is relatively low and many cryptos fail to take off, any newly introduced cryptocurrency can gain momentum, resulting in the value of other coins going down while the newcomer’s cryptocom trade fees token gains value. And Etoro customers were locked out of their accounts after the service went down during a crypto crash. The global crypto-market has shrunk from $1.02 trillion to $983.72 billion, an 11 per cent decrease since Monday, according to CoinMarket cap. All major cryptocurrencies have been trading in the red lately, with the fall testing even long-term investors. Here we explain all the reasons that triggered the great crypto-market crash.