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Crypto Winter: Is It Time To Scoop Up Bitcoin?
By SmallCapAsia  •  June 10, 2022
The meteoric crash of the TerraUSD and Luna cryptocurrencies resulted in severe consequences for not only its investors but the crypto ecosystem at large. It is estimated to have wiped half a trillion dollars (over US$500 billion) off the sector’s market capitalisation as it imploded virtually overnight. Many investors lost their entire life savings and the whole situation is so dreadful judging by how suicide helplines around the world are posted on u/TerraLuna, a Reddit forum dedicated to the Luna cryptocurrency. This turn of events has shaken the crypto industry so badly that many players have called it the next ‘Crypto Winter’. Arrival of the Crypto Winter The term “Crypto Winter” refers to a period of flat trading after a price crash. The last crypto winter was from early 2018 until mid-2020 whereby the value of cryptocurrencies plunged and layoffs were rife. Evident of how the crypto winter is...
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By SmallCapAsia
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