Crypto Winter Has Only Just Begun: Bad News for Bitcoin Fans | Crypto

Crypto Winter Has Only Just Begun: Bad News for Bitcoin Fans

Read Time:1 Minute

– The cryptocurrency market has again fallen below $1 trillion, valued at $997 billion at last check.

– Bitcoin, the king of crypto coins, is below the symbolic threshold of $20,000 for the first time since July 14.

– The fear that dominated the markets in May, June and early July is back. Investors figure that the economy could slide into recession as the Federal Reserve aggressively hikes interest rates to fight inflation, which is at its highest in 40 years.

– These fears have only intensified the volatility in the cryptocurrency market.

– From the beginning, the cryptocurrency market has seen bull runs, even euphoria, often followed by equally strong downward movements.

– There have been several episodes since the advent of bitcoin in 2009. But initially we were talking mainly about crypto bubbles bursting than about crypto winter setting in.

– The two longest most important crypto winter periods were January 2014 to February 2017, and January 2018 to Mid-December 2020.

– The current crypto winter is barely 10 months in; investors’ pain is immense.

– The current crypto winter is certainly due to fears of a possible recession on the horizon but also to problems inherent in the crypto industry, such as the lack of transparency.

crytp crisis6 Crypto Winter Has Only Just Begun: Bad News for Bitcoin Fans

Leave a Reply

%d bloggers like this: