As the U.S. grapples with record inflation and a bearish stock market, cryptocurrency is crashing. The value of Bitcoin has fallen some 65% from all-time high last year, while crypto companies Celsius and Binance have frozen its users’ accounts in recent days. In 2021, the cryptocurrency market was worth $3 trillion. Now, it’s worth less than a third of that.
With crashing stocks, is this the end of cryptocurrency?
The value of Bitcoin has fallen more than 65% from all-time high last year. Photo by Shutterstock.