Bitcoin and other cryptocurrencies are plunging. Here's what to know about a market that just a few months ago was being touted as the future of finance.
"We appear to be entering a recession," Brian Armstrong wrote.
In fact, with the Fed continuing to raise interest rates aggressively and with inflation still high, there is likely to be more pain ahead across all markets, including cryptocurrencies. "The technological razzle-dazzle of cryptocurrency swept in a lot of retail investors who didn't realize the sort of risks they were taking on," Prasad says.
Crypto markets are still fairly new, and there's a lack of clarity even about the most basic things, like who is in charge of overseeing the space.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Woman in Mesa County dies while paddleboarding on Colorado RiverWoman dies in Mesa County after having gone missing while paddle boarding on Colorado River
Read more »
Here’s one way Utahns can put $100 million a year toward affordable housing, George Pyle writes.George Pyle: 'If the plan Congress votes on doesn’t include higher taxes on the rich to support programs that make life decent and tolerable for the not-so-rich, it will be both immoral and unworkable.'
Read more »
Here Are Two Massive Reasons Why 2024 Will Be Next Big Year for CryptoThere are only so many things that may cause reversal on cryptocurrency market, and here they are
Read more »
Bill Gates says cryptocurrency based on 'greater fool theory'The cryptocurrency market is now down to a third of its November peak. Experts warn Bitcoin's value could drop to 2017 levels next.
Read more »
A’s miserable play continues against Red Sox, Oakland loses for 16th time in 18 gamesThe A’s have lost nearly three quarters of their games since May 1.
Read more »
What to expect from the Blazer, Chevy’s new EVThe Chevy Blazer EV is set to be fully revealed in July. Here's what we know so far about the latest electric vehicle from GM.
Read more »