We’re Only “Halfway There”—Insiders Warn Of 80% Meltdown As Price Of Bitcoin, Ethereum, BNB, XRP, Terra’s Luna, Solana, Cardano, Dogecoin In Free Fall

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We’re Only “Halfway There”—Insiders Warn Of 80% Meltdown As Price Of Bitcoin, Ethereum, BNB, XRP, Terra’s Luna, Solana, Cardano, Dogecoin In Free Fall

This is a BETA experience. You may opt-out by This week brought the most brutal crypto rout of 2022. Yesterday, the bitcoin price was down 26% for the week. Ethereum's price crashed 35%, BNB BNB 41%, dogecoin 42%, cardano 44%, XRP XRP 39%, solana 46%. Even the supposedly "stable" stablecoins didn't escape the sell-off. The world's biggest one, tether, dropped its peg with the dollar and plunged to $0. 95 for the first since 2017. Meanwhile, terraUSD and luna—its algorithmic peers—lost 85% and 99% of their value before their blockchains were halted. On the positive side, this morning bitcoin and major altcoins rebounded by double digits. Still, commentators, including Bitcoin's BTC official Twitter account, believe it's too early to pop the cork—pointing to the extent of bitcoin's previous drawdowns. "The $BTC all-time high is $68, 990. An 80% draw-down is $13, 798. $27k is about halfway there," it tweeted yesterday. [Ed note: Investing in crypto is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Digital generated image of golden deflated balloon in shape of bitcoin sign lying down on purple ... [+] background. Who's to blame for this rout?

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