More Than $1 Trillion of Crypto Vanished in Just Six Months
- Date: 13-May-2022
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:Middle East
More Than $1 Trillion of Crypto Vanished in Just Six Months
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.
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