Bitcoin Is Marked Down As Crypto Winter Wipes Out Billions In Market Value

Bitcoin Is Marked Down As Crypto Winter Wipes Out Billions In Market Value

Share to Linkedin Some of you may remember the "crypto winter" of 2018. Bitcoin crashed 25% in January of that year, while Ether saw three straight months of double-digit losses. Even though we're entering the summer months, we may remember last week as another great crypto winter. The entire digital ecosystem fell under selling pressure, with LUNA leading the way. The algorithmic "stablecoin," which was designed to remain pegged to the U. S. dollar, effectively lost all of its value in one of the swiftest, most brutal wipeouts I've ever seen. Meanwhile, shares of crypto exchange Coinbase, which went public in April of last year, have fallen around 85% from their high set in November 2021, when Bitcoin topped at $68, 900. As alarming as this all sounds, I don't believe now is the time to panic. Past crypto selloffs have been much worse, as I'll show you in a moment. Just as they did in those past instances, critics of Bitcoin and crypto in general are already taking victory laps and penning I-told-you-so op-eds and Twitter threads. You may have come across a few yourself. But had you bought when they were celebrating, you would have seen some remarkable