Why Is Crypto Crashing? Here’s What You Should Know Right Now
— Market, Heres, Investors, Crashing, Winter, Bitcoin, Crash, Stock, High, Bear — 1 min read
Experts say record-high inflation, fear, rising interest rates and a loss of confidence in crypto investments are contributing to the crypto crash. Analysts say most of the factors are “macro,” which means they relate to the economy as a whole rather than any flaws in the crypto market. The popular trading and tracking platform, Coinbase, took a $430 million loss in the first quarter of 2022 and the company’s stock dropped 81%. The Dow Jones Industrial Average, a key stock index, entered a bear market in mid-June 2022. The S&P 500 officially entered a. bear market last week, and Bitcoin rose by more than 15% in first week of July 2022, and experts believe prices may remain stable around the $20,000 mark. Source