Cryptocurrencies Melt Into A “Perfect Storm”

New York Times: “The cryptocurrency world went into a complete meltdown this week in a sell-off that graphically illustrated the risks of experimental and unregulated digital currencies. While celebrities like Kim Kardashian and tech moguls like Elon Musk have talked about cryptocurrencies, the accelerating decline of virtual currencies like Bitcoin and Ether shows that, in some cases, two years of financial gains can disappear overnight. “

“The panic moment was the worst cryptocurrency reset since Bitcoin plummeted 80% in 2018. But this time, the drop in prices has a wider impact as more people and institutions hold the currencies.”

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