As the world grapples with interest rate hikes and inflation, the cryptocurrency market has quietly slipped into relative destitution. Housing affordability and cost of living concerns have rightly taken precedence in the public eye, however, it must be said the collapse of cryptocurrency has been nothing short of spectacular. Over the past few weeks, external global factors have placed significant downward pressure on the industry, seeing the values of certain coins drop substantially, and it’s not just bit players, either.
Image: Pierre Borthiry/Unsplash
According to the University of New South Wales, sell-off in Bitcoin saw the currency’s value fall to USD$17,592.78 in mid-June, marking the first time since December 2020 that it had fallen below USD$20,000. Similarly, Ethereum dipped a whopping 70 per cent from its all-time high in November last year, prompting the world’s largest cryptocurrency exchange, Coinbase, to sack a staggering 18 per cent of its staff. Naturally, the...
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...