Many market experts have long warned of the current situation. They predicted decline in the value of cryptocurrencies.
Economist Jan Zygmuntowski stated that “crypto is not money, a dangerous asset, but a financial pyramid and an internet financialization operation in which buyers get bogged down in para-religious symbols.”
Cryptocurrency enthusiast, popular blogger in amateur investor circles Maciej Tomczyk felt that we are dealing with a still young market with which there are still a lot of risks. He also noted the “historical aspect of events”.
Some fall into more, however dramatic tone. By crash they lose theirs life savings, they also risk losing their property. One user wrote that “suicide is the only way out“Special helplines are being launched with psychological help for cryptocurrency market participants.
However, almost all retail investorswho do not have long-term investment horizonthey flee the market – is reported by the Interia Biznes website.
the Internet a wave of jokes related to the market crisis also swept. One of the users Twitter He noted that “memes are the only way to be depressed”.
The creativity of Internet users did not disappoint. Much has appeared humorous reactions.
Popular cryptocurrencies are in historic decline. Bitcoin in 24 lost hours 13 percent. your value. Ethereum – 23 percent. gimbal cheaper by 1/3, a Terra Luna lost 95 percent. your value. Price bitcoins falls sixth week in a row and shoots wide cryptocurrency market. On Thursday, bitcoin fell to 27.5 thousand. dollars, which means it returned to a level not seen since last July. Meanwhile, in April this year, it cost more than 40 thousand. dollars.
Terra UST even fell to 30 centsa Attached fell $0.95It is historical minimum. “If in this case trust breaks, it is difficult to see any willingness to buy cryptocurrencies that basically have no specific purpose of existence” – he says Michal StajnyakSenior Financial Markets Analyst XTB.
Michael Novogratzhead of a cryptocurrency bank Digital Galaxyearly November, had assets valued at 8.3 a billion dollars. Now, this big supporter of “terraUSD”, the “algorithmic stablecoin”, is in big trouble with the collapse of its associated luna. His fortune is only valued at 2.5 billions of dollars. At a recent cryptocurrency gala in Miami Novogratz boasted of his “bitcoin” and “luna” tattoos.
Changpeng Zhaostock exchange president Binancedebuted in January in the ranking of the rich “Bloomberg“Then his fortune was valued at 96 Billions of dollars. On Wednesday May 11, it was only $11.6 billion.
Brothers Tyler and Cameron Winklevossfellowship co-founders Geminilost after approx. 2.2 billions of dollarsIt is 40 percent. luck and fortune Bankman-Frieda herselfthe head of the stock exchange FTXfrom the end of March, it halved, to 11.3 Billions of dollars.