Crypto Tanks Again

As of today, Bitcoin’s price is $20,909.35 according to CoinDesk.

A Turbulent Period

Bitcoin marked a 2.29% dip in the past 24 hours. This crash was mirrored by many other cryptocurrencies.

Ethereum is down by 1.57%, reaching $1,208.69. Binance Coin is doing a bit better - it’s $239.85, which equals a 0.10% decline. Those used to be some of the best cryptocurrencies to invest in.

Еven Dogecoin experienced a 6.32% dip and is now $0.072322.

“The Crypto Winter is nothing new, it happened twice before, in 2018, and before that. It's a cyclical event and happens every four years. It will serve as a learning curve and accelerator in laying the groundwork for a more stable and profitable sector on a global scale. Projects which were meant to capitalise on the fundraising aspect of crypto will die out, while projects with an actual use case of tokens tend to become more prominent, they thrive and will stay”, Vineet Budki from Cypher Capital explained to Gadgets 360.

The current situation has forced many crypto giants like Crypto.com and Coinbase to lay off their staff and cut jobs.