Crypto is Crashing? Don't Panic! Here's How to Bounce Back #financialgoals #crypto

Crypto is Crashing? Don't Panic! Here's How to Bounce Back

Plummeting prices and lost life savings confirmed for many that the blockchain dream was too good to be true – and it may now struggle to hit Even if you don’t live and breathe cryptocurrency, you’ve probably noticed some turmoil in the sector. Eye-catching headlines about missing apes and collapsing stablecoins are indicative of the chaos, but what’s really going on?How did the crypto market unravel?Like so many things: gradually, then all at once. Take bitcoin, the original cryptocurrency, which is responsible for about a third of the value of the sector. The cost of a single bitcoin has been dropping slowly since the end of March, alongside a broader malaise in the technology sector.That makes sense: an investment in bitcoin is, in one regard, a bet on the possibility of further technological upheaval, just like the purchase of any other tech stock. With a rise in inflation choking off post-pandemic growth on both sides of the Atlantic, coupled with a vague sense that irrational exuberance had led to an overvaluing of tech in general over the past couple of years, the whole sector began dropping.

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