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32 points
Because the people who touted it as a safe haven were the same ones selling it
7 points
Crypto started as a currency, but is treated like an investment. It’s no wonder then it follows the direction of all investments.
1 point
Monero is actually used as a day-to-day currency, which is why when Bitcoin and other currencies fall, Monero falls some, but not to nearly the same extent. As an example, the other day, Bitcoin fell 17% in one day, where Monero fell 6%. That has a lot to do with the velocity of money and the fact that Monero changes hands frequently and so it’s price stays more stable.
3 points
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