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In the first half of 2022, the price of every major cryptocurrency dropped. Now, a handful of crypto-related companies are facing serious financial difficulties, including bankruptcy. This period of market cooling has become known as “crypto winter.”
Unlike terms such as “market correction” or “bear market,” crypto winter doesn’t have a precise definition.
“Generally speaking, it’s a period of sustained lower prices,” says Rayhaneh Sharif-Askary, head of investor relations at Grayscale Investments, an asset management company specializing in digital currencies.
Wherever the threshold lies, it’s clear we’ve passed it. Here’s why:
The drop in value was steep: The total value, or...
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