One significant factor that contributes to the volatility of the crypto market is its lack of regulation. 

Unlike traditional stock markets, which are heavily regulated by governments and financial institutions, the crypto market operates with little to no regulation. 

This makes it easier for market manipulation and fraud to occur, which can result in rapid changes in the value of cryptocurrencies. 

Another factor that contributes to the volatility of cryptocurrencies is their relatively small market size.  

Compared to traditional stock markets, the crypto market is relatively small, and the value of cryptocurrencies is not yet widely accepted.  

This means that even small changes in market sentiment or news can have a significant impact on the value of cryptocurrencies.

Additionally, the crypto market is highly influenced by speculation and hype.  

Cryptocurrencies are often seen as high-risk, high-reward investments, which can lead to significant price fluctuations based on rumors, hype, and speculation.