Crypto Crash 2022

Bitcoin Market Crashes As Billions of Nothing Disappears, Tears of Crypto Bros All That Remains

In the least surprising news story of the year, Bitcoin prices have crashed (again). The Crypto craze may have reached the mainstream, but the unproven market is as volatile as ever. For Crypto Bro traders in the year of our lord, 2022, there is only one constant in the Bitcoin market — diminishing returns. 

In the last week alone, the crypto market has lost about $1.3 trillion in market capitalization. That’s equal to about 6% of the entire GDP of the US. Ouch. As it turns out, billions of nothing have disappeared, leaving the tears of Crypto Bros as the only tangible asset in their losses. The latest iteration of the so-called “Crypto Winter” was foretold by some experts, but that didn’t stop Crypto Bros around the world from peddling an unproven and unregulated technology.

According to economist Paul Krugman, a Nobel Peace Prize winner and longtime crypto skeptic said that he is seeing “uncomfortable parallels” between the modern Crypto market and the fall of the 2008 housing market. Ironically enough, Krugman said the risks of the crypto collapse are “disproportionately on people who don’t know what they are getting into and are poorly positioned to handle the downside.” You don’t say.

The funny thing about the current crypto craze is the number of celebrities and influencers who are peddling this new technology as “the future”. In reality, it’s just another Ponzi scheme for those in power to get rich quick on the backs of unsuspecting investors. As Matt Damon would say in his god-awful ad, “Fortune favors the brave.” Although, it seems that “the brave” in this instance are people who were smart enough not to invest in an unregulated market. After all, Cryptocurrencies are still a relatively young technology that not many people fully understand, so this should come as a shock to no one.

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