Kevin O'Leary says the crypto market won't hit bottom until there's panic: 'we need someone to go to zero'

Kevin O'Leary said the cryptocurrency market won't hit a bottom until there is a panic event. "In the crypto world, we need someone to go to zero," he told CoinDesk. The "Shark Tank" star's comments come as bitcoin, the largest cryptocurrency by market capitalization, has lost 29% over the past week. On Wednesday, bitcoin tested the $20,000 price level, falling from a high of $69,000 reached last fall. The Fed is expected to raise rates further on Wednesday, with Wall Street seeing 50 to 75 basis points in the coming days as inflation continues to keep pace with the Federal Reserve's rate hikes despite the Fed's recent rate hikes. The market sell-off isn't abating. Source