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Here’s What To Do During a Crypto Crash in 2022
A bankruptcy protection scheme (called the ‘Civil Rehabilitation Plan’), which promised billions of dollars in Bitcoin as compensation, was accepted last month by about 99 per cent of the creditors of the now-defunct exchange. However, the apprehension still runs high: if the creditors – who will now receive more than 140,000 units of Bitcoin – sell their holdings, it would naturally place downward pressure on the price of bitcoin, thereby driving its value down. Bitcoin falling in price Stocks, like Bitcoin, have come off their June lows. But with equities once again trading lower and Bitcoin on the back foot, Barron’s asked experts if there was a correlation between the two.
Bitcoin going down
The slump has been much tougher on altcoins, with Ethereum (ETH) down nearly 18% over the past five days. Solana (SOL), a crypto backed by FTX’s CEO Sam Bankman-Fried, is all in freefall, having shed more than 40% of its value in the past seven days. In the last 24 hours, FTT is down 22%. BlockFi files Chapter 11 bankruptcy after pausing services due to 'significant exposure' to FTX Coinbase didn't respond to a request for comment on how the crypto market has impacted business. CEO Brian Armstrong said during an earnings call in May that Coinbase officials "tend to do our best work in a down period."
Is there a way to learn about crypto without investing in the currencies themselves?
Customer Service Kids Don’t Want Money Any More A number of negative stories and threats of further regulation have pushed the price of bitcoin down.