It’s not news that the cryptocurrency market is having a very tough year, with the market capitalization losing over $2 trillion and ultimately, losing its trillion-dollar status. Bitcoin, which was once a trillion-dollar asset class, ranking among the top 10 asset classes in the world, alongside legacy asset classes like Gold, Apple, Saudi Aramco and Amazon, has lost over 60% of its value Year-to-Date (YtD), now ranking #18, with a market capitalization of $362 billion, a point not seen since November 2020.
June 13 stood out to be a particularly tough day for the market, with major tokens shedding more than 10%. Bitcoin, the market leader, broke below its $20,000 support level, signalling a capitulation that saw a total liquidation of approximately $8 billion in June alone. Ether, the smart contract flagbearer, is down more than 70% in 2022, and many more coins and tokens have fared worse.
As previously mentioned, over $2 trillion in value has been wiped off the books since crypto’...
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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...