Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6931289652318371840
The Wall Street Journal: How More Than $1 #Trillion of #Crypto #Vanished in Just Six Months: The helium is coming out of #bitcoin and other #cryptocurrencies as #investors shy away from [dumb] #risk: https://lnkd.in/e3F-KfbK: OLD NEWS AGAIN… See our related coverage, caution, and advice over the last year and more on all #Crypto and in particular #Bitcoin and #Blockchain #Cryptography #Protocols going back a decade or so:
March 10, 2021: Financial Times Why #Cryptocurrency Is In Fact #Not “ #Currency ”: https://lnkd.in/e82gx2Fk :
2013: #Bitcoin #Protocol: #Model of ‘ #Cryptographic #Proof ’ Based #Global #Crypto-#Currency & #Electronic #Payments #System: PDF https://lnkd.in/e4v-Rhs : HTML https://lnkd.in/ePsDYDK :
2014: #Future of #Bitcoin & #Statistical #Probabilistic #Quantitative #Methods: #Global #Financial #Regulation (Interview: Hong Kong Institute of Certified Public Accountants (HKICPA) )
PDF https://lnkd.in/eFQ8Ath : HTML https://lnkd.in/eZ55BGY :
#Traders’ flight from #risky #investments has halved the price of bitcoin and other cryptocurrencies, wiping out more than $1 #trillion worth of #digital #money since November.
Wild swings are fairly common with cryptocurrencies, but even seasoned investors were left reeling as #bitcoin dropped 29% over a seven-day losing streak that just ended as a #stablecoin—one part of the crypto world that touted its #stability—unexpectedly crashed.
#Investors are staring at an #inflection point in the #financial #markets as #interest #rates rise and #inflation rages, and they are responding by selling #risky #assets.
For #crypto, it has been a #volatile journey into the depths.
Cryptocurrencies were falling even before last week, victims of sky-high #inflation. Bitcoin and other #digital #currencies have been talked about as #inflation #hedges. But the ripple effect has played out differently. Surging inflation is spurring the Federal Reserve System to raise #interest #rates faster, which investors believe will cause a slowdown in economic growth. The result: Investors are unloading risky assets, including cryptocurrencies.
Also exacerbating the losses is that #crypto #trading, originally an individual-investor game, is now dominated by #institutional #investors such as #hedgefunds. Those who have sought #diversification in crypto have been caught wrong-footed.
As the #price has moved lower, both individual and institutional investors alike have been bowing out. When #Coinbase reported its first-quarter results late Tuesday, it revealed it is hemorrhaging users. By the end of trading Thursday, Coinbase’s stock was 82% below where it closed after its first day of trading just over a year ago.
AWS Cloud Network Partner: Silicon Valley-Wall Street-Pentagon: Global Risk Management Network LLC
