Wall Street

What’s Wrong With Coins? Crypto Crisis Explained

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The Street

By Luc Olinga The crypto industry is currently going through an unprecedented crisis. Here’s a guide to what’s going on, and what might be next.. The cryptocurrency market has dropped $2 trillion in value since November’s mad ascent. During crypto mania, bitcoin reached a record $69,044.77, according to data firm CoinGecko, while ether, the second digital currency by market value, registered a record price of $4,878.26. But in just eight months, bitcoin has lost 71% of its value, while ether is down 77%. Other alt-coins are down 60% to 90%. Investors are avoiding cryptocurrencies as they avoid…

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