Government Shutdowns Have Meant Crypto Bloodbaths: Bad News Ahead For Bitcoin, Ethereum?

The U.S. federal government shut down at midnight, sending leading cryptocurrencies lower and raising concerns about the market’s short-term outlook.

Shutdown Shakes Cryptos, Stocks

The shutdown, the first since 2018-19, could halt some government services temporarily and furlough hundreds of thousands of federal workers.

The development shook markets, with stock futures and leading cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) trading lower.

See Also: Bitcoin Flat As Fed Policy Meet Looms; Ethereum, Dogecoin, XRP Decline: Analyst Flags Support Where They Plan To ‘Load Heavily’ On ETH

A Historical Analysis

The last shutdown, which started on December 22, 2018, and went until January 25, 2019, was the longest in U.S. history. The shutdown resulted in around 800,000 workers being unpaid …

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