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18/12/2024
Wednesday
THIS DAY IN HISTORY:
18 December 
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
18 December
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
Cryptocurrency abyss: Digital Investors Lose Billions of Dollars
The cryptocurrency market is going through hard times. Yesterday it became known that the price of bitcoin dropped below the $27,000 mark, actually returning to the state of the end of 2020. Other crypto assets show similar trends. At the same time, the largest stock exchanges of the world also bear risks.
In particular, Coinbase, after providing a report on trading volumes and a decrease in the number of active users, found a drop of 15.67%. The value of its securities fell from $72.99 to $61.55.
Crisis phenomena in the crypto market were obvious last year. Experts noted a trend towards a decrease in the rate of growth in the value of assets. In January 2021, bitcoin was worth more than $34,000, and a year later, $42,838. However, we should not forget that in November 2021, the digital currency reached $60,940, thereby depreciating by 38% by January.
The biggest crash experienced by investors of the altcoin LUNA the other day (compared to the highs, its price decreased by 97%) gave rise to new rumors related to conspiracy theories and computer attacks. Terraform Labs CEO Do Kwon, the inventor of this cryptocurrency, lost billions of investments.
The stablecoin TerraUSD (UST) is 75% down from its estimated dollar parity. Hope for so-called "stable" currencies (pegged, in particular, to the fiat dollar) turned out to be a myth. Now experts from the conservative camp are predicting a collapse of all stablecoins.
Against this background, those billionaires whose investments in the crypto market were motivators for many participants have become much poorer.
Most experts express pessimistic forecasts regarding cryptocurrencies. For Bitcoin, many predict a depreciation to $20,000 per coin, as investors do not see growth prospects. Considering that trust is the main value driver in the crypto market, its loss can lead to a further collapse of the market, which does not bode well in the long run.
In particular, Coinbase, after providing a report on trading volumes and a decrease in the number of active users, found a drop of 15.67%. The value of its securities fell from $72.99 to $61.55.
Crisis phenomena in the crypto market were obvious last year. Experts noted a trend towards a decrease in the rate of growth in the value of assets. In January 2021, bitcoin was worth more than $34,000, and a year later, $42,838. However, we should not forget that in November 2021, the digital currency reached $60,940, thereby depreciating by 38% by January.
Bitcoin has been “bearish” for the past few months.
A similar situation is developing with other crypto assets. Ethereum is being sold for $1.8 thousand (the lowest price since the middle of last year). Binance Coin is 26% down, XRP is 28% down and Solana is 35% down. Experts estimate the total decrease in the capitalization of the crypto market at $1.2 trillion (18.5%).The biggest crash experienced by investors of the altcoin LUNA the other day (compared to the highs, its price decreased by 97%) gave rise to new rumors related to conspiracy theories and computer attacks. Terraform Labs CEO Do Kwon, the inventor of this cryptocurrency, lost billions of investments.
The stablecoin TerraUSD (UST) is 75% down from its estimated dollar parity. Hope for so-called "stable" currencies (pegged, in particular, to the fiat dollar) turned out to be a myth. Now experts from the conservative camp are predicting a collapse of all stablecoins.
Against this background, those billionaires whose investments in the crypto market were motivators for many participants have become much poorer.
Changpeng Zhao, the head of the Binance exchange, has lost $ 37 billion.
Instead of $ 24 billion, the founder and head of FTX has only $ 21 billion left. The head of the American Coinbase lost $ 4.4 billion. At the same time, expert estimates are very approximate, given the volatility of the market. It is possible that after a day or a week the data will be radically different.Most experts express pessimistic forecasts regarding cryptocurrencies. For Bitcoin, many predict a depreciation to $20,000 per coin, as investors do not see growth prospects. Considering that trust is the main value driver in the crypto market, its loss can lead to a further collapse of the market, which does not bode well in the long run.
13.05.2022
