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Why did crypto prices drop yesterday after the Roaring Kitty livestream?

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by COINS NEWS 89 Views

Yesterday during and after the Roaring Kitty livestream it seemed like the price of Bitcoin and pretty much every other altcoin took a major dive, and as someone that is newer I'm trying to understand why exactly?

I understand that a bunch of people sold off Gamestop stock as a result of his livestream, and so the price of that plummeted, but I don't fully understand why that had a ripple effect on crypto in general. Every single coin I look at is down.

I guess I get that there is a lot of crossover between people that invest in Gamestop stock and crypto maybe via Reddit, but I guess I just don't get the specific mechanics of why that happened, and would like to understand so that I'm better prepared for the future.

Any insight would be appreciated, thanks!

submitted by /u/TiberiusRedditus
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