Investors fear ‘crypto winter’

Tell a friend about this post

As cryptocurrency investors reel from the sharp sell-off in bitcoin and other digital currencies, some fear the worst is yet to come.

Bitcoin, the world’s largest virtual currency, briefly plunged below $33,000 Monday to its lowest level since July. It’s since recovered back above the $36,000 mark, but is still down almost 50% from a record high of nearly $69,000 in November.

Two commemorative bitcoins pictured in front of a Tesla car during cold weather on Jan. 7, 2022.© Provided by CNBC Two commemorative bitcoins pictured in front of a Tesla car during cold weather on Jan. 7, 2022.

Meanwhile, the entire crypto market has shed more than $1 trillion in value since bitcoin’s all-time high, as top tokens such as ether and solana followed the No. 1 digital currency to trade sharply lower. Ether has more than halved in value since reaching its peak in November, while solana has suffered an even steeper decline, falling 65%.

Investors fear ‘crypto winter’ is coming as bitcoin falls 50% from record highs (msn.com)

Tell a friend about this post
READ ALSO  Legal & General reports 73% profit loss

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

You cannot copy content of this page