Crypto Is In For A Global Regulatory Avalanche As The Price Of Bitcoin, Ethereum, BNB, Solana, Cardano, XRP Tumbles

Crypto Is In For A Global Regulatory Avalanche As The Price Of Bitcoin, Ethereum, BNB, Solana, Cardano, XRP Tumbles

Investors fear the crypto "winter" isn't over as cryptocurrency prices keep tumbling. The price of Bitcoin, the world's largest cryptocurrency, nosedived 47% from the all-time high set in November. Meanwhile, ethereum's price is down 48%, BNB 43%, cardano 65%, XRP 67%, and solana 65% from their last year highs. Meanwhile, crypto insider David Marcus, the former head of crypto at Facebook-parent Meta, believes cryptos have entered a prolonged period of falling prices. SAN SALVADOR, EL SALVADOR - 2021/09/07: A demonstrator holds an anti-bitcoin banner while chanting ... [+] anti-government slogans on a megaphone during the protest march. Fear that out-of-hand inflation will prompt central banks to raise rates is one of the biggest narratives driving cryptos and other financial markets down. (Learn why monetary tightening hits riskier assets the hardest here) Another big worry is a looming regulatory threat. Gary Gensler, the chair of the U. S. Securities and Exchange Commission, which regulates financial markets, recently likened the crypto market to the "Wild West". He also called for "additional congressional authorities to prevent transactions, products and platforms from falling between regulatory cracks" to protect consumers. At the same time, the Biden administration is drafting an executive order that will require