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Is crypto crashing
The 2022 Crypto Crash
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena. Is the crypto crash over Intense volatility presents the opportunity for outsized gains — after all, with highs so high, one well-timed trade could make you the next crypto millionaire. On the other side of the digital token, however, is an equally outsized risk. With the kind of turbulence that’s natural to crypto investing, the potential for huge losses is always just a few trading sessions away — and the current crypto crash is proof.Why crypto crash today
Let’s take a look at the price movement of the top cryptocurrencies by market cap and popularity over the past 24 hours, as of November 9, 2022: THE ONES WHO CAPITULATED "There's definitely peace that comes with just selling off such a volatile asset," she says. "I don't have to worry, 'Am I losing $500, $1,000 today?'"
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But it would be unfair to pin the blame of the downturn solely on the teams behind terra luna and celsius for what is a wider industry problem. In the absence of strong regulation, several major crypto players went along with ventures that, even at face value, were peddling dubious products. Jeremy Allaire, the creator of Circle—a stablecoin company licensed as a money transmitter in 46 US states, which usually styles itself as the adult in the room—is scathing. “For instance, what responsibility do exchanges have? Their philosophy is, if customers want it, they’ll put it on,” he says. “That’s wrong—they have a responsibility for what they put on their shelves. Do you put baby formula next to rat poison on the same shelf?” Business Cryptos had had already shed around $2 trillion in value before FTX’s troubles emerged this week as central banks around the world ratchet up interest rates to combat runaway inflation.Is bitcoin crashing right now usa
Prominent tech leaders including Mr. Musk, Jack Dorsey, a founder of Twitter, and Marc Andreessen, an investor, embraced the technology as it grew from a novel curiosity into a cultlike movement. The value of cryptocurrencies exploded, minting a new class of crypto billionaires. Other forms of cryptocurrency, including Ether and Dogecoin, captured the public’s attention, particularly in the pandemic, when excess cash in the financial system led people to day trade for entertainment. Why did this happen? I didn’t like this. I resented having to remember a passphrase, and I resented paying the Ethereum network a 20 percent transaction fee. But once the money made it to Marszalek’s app, the friction disappeared. Trading crypto on my phone was dumb and fun in a way I’d been conditioned to understand. I knew the fees were corroding my capital, and I figured any product offering double-digit interest rates might be taking on some kind of explosive risk. But I also knew, the instant I saw Matt Damon’s face on my TV, that whatever the market did, from now on it was going to be more work to be a crypto skeptic than a crypto enthusiast. So I surrendered. Kris Marszalek had made crypto stupid, and in exchange I was going to make him rich.