Bitcoin Just Had Its Worst Month in Crypto's Entire History

Bitcoin Just Had Its Worst Month in Crypto's Entire History
фото показано с : futurism.com

2022-7-4 22:01

Free Fallin'

The blockchain blues continue. Bitcoin lost 38 percent of its value in June alone, making this past month the worst in crypto's 12 year history, CNBC reports.

That's not all the bad news. Ethereum rang in at an astonishing 47 percent loss, and industry leaders crumbled across the board — major crypto hedge fund Three Arrows Capital has effectively imploded after failing to pay a $670 billion loan, the digital bank run persists, and widespread industry layoffs continue to plague the struggling market.

Culling the Weak

Still, the most faithful of crypto enthusiasts refuse to be shaken, and some even think that these record lows are the perfect time to vulture fallen coins.

"If your timeframe is a week, or a month, or even a quarter, I think there’s still significant volatility," said Matt Hougan, chief investment officer at Bitwise Asset Management, to CNBC. "If you have a time horizon measured in years, then yes, this is a great opportunity to think about entering the market."

Billionaire Sam Bankman-Fried, founder of exchange platform FTX, seems to be taking this approach. A CNBC source alleged that Bankman-Fried is looking to acquire crypto lender BlockFi for a low $25 million — a number that, the outlet reports, is roughly 99 percent below BlockFi's last private valuation.

Other crypto CEOs, however, are coping differently.

Collectively, these are some serious losses. Of course, there's a chance that the true believers could be right that the market will rise like a phoenix from the ashes — but in the short term, "invest in something you don't understand" may not have been the best advice, after all.

READ MORE: Bitcoin just had its worst month on record [NYT]

More on the bitcoin crisis: Crypto Ceo Warns That Exchanges Are "Secretly Already Insolvent"

The post Bitcoin Just Had Its Worst Month in Crypto's Entire History appeared first on Futurism.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto history value bitcoin percent worst month

crypto history → Результатов: 126


Фото:

Opera Now Permits Users to Send NFTs Directly From Crypto Wallet

Opera browser has claimed a bit of history after becoming the first browser to offer users a built-in crypto wallet back in July 2018. A blog post on the Opera website on September 7, 2018, states that the wallet’s new features now permit users to be kept in the know regarding transaction activity status and send crypto collectibles such as...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-11 15:00


Bitcoin Exchange Guide’s Crypto News For September 8: What Happened in the Blockchain World?

Here's part one to what happened in the blockchain world today! Make sure you check out all of Bitcoin Exchange Guide's video news reviews each and every day. Thomas Lee of Fundstrat Reveals “Alt-coin Correction Index” with Sell-off History Thomas Lee of Fundstrat Reveals “Alt-coin Correction Index” with Sell-off History Satoshi Nakamoto Grand Reveal Party […]

2018-9-9 05:20


Фото:

Japan’s FSA Vows to Strike a Balance Between Consumer Protection and Promoting Technological Innovation

Japan is both one of the largest crypto markets in the world and one of the most crypto-friendly countries. However, the Japanese government has been increasingly vigilant on the crypto industry as a whole, an understandable stance after the country was hit with what is touted to be the largest crypto heist in history.

2018-8-28 19:24