Crypto Winter Is Coming: What You Need To Know
— Investors, Bitcoin, Market, High, Winter, Period, Coming, Cryptocurrency, Crypto — 1 min read
Bitcoin (BTC) and other leading altcoins, such as Cardano (ADA) and Polygon (MATIC) are all off more than 60% year to date. Major crypto exchanges such as Coinbase and Gemini announced hiring freezes and layoffs in early June. The Winklevoss memo cited “current macroeconomic and geopolitical turmoil” as a catalyst for this troubling devolution. Analysts believe the wheels of the emerging crypto winter were set in motion earlier in 2022. Since November 2021, the crypto market has dropped 60%—drastically falling from £2.5 trillion to around £825 billion, as of this writing. During this difficult time, you must remain vigilant and be prepared for chaos to sweep over the market without much warning. Source