The plummeting value of Bitcoin and turmoil across major cryptocurrency platforms has many investors fretting about their digital wallets and leaders in the space warning about a “crypto winter.”
So what’s happening, and what does it mean for your portfolio? Here’s what you need to know.
Bitcoin is continuing a downward spiral that has marked much of 2022 for the popular cryptocurrency.
The digital currency continued to sink Tuesday following a 16-per cent drop on Monday that sent its value as low as US$22,400. Bitcoin has lost more than two-thirds of its value compared to all-time highs in November of last year.
Bitcoin is not the only crypto asset facing a downturn.
Ethereum, another widely-followed cryptocurrency, was down roughly 17 per cent on Monday. The crypto market as a whole dropped below a value of US$1 trillion this week.
Investors have been selling riskier assets such as digital currencies and technology stocks as the Federal Reserve raises interest rates to combat high...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...