{"id":445990,"date":"2022-05-12T20:50:40","date_gmt":"2022-05-12T17:50:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-investors-panic-amid-digital-coin-bitcoin-crash\/"},"modified":"2022-05-12T20:50:40","modified_gmt":"2022-05-12T17:50:40","slug":"crypto-investors-panic-amid-digital-coin-bitcoin-crash","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-investors-panic-amid-digital-coin-bitcoin-crash\/","title":{"rendered":"#Crypto investors panic amid digital coin, bitcoin crash"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37b8a837b16\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37b8a837b16\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-investors-panic-amid-digital-coin-bitcoin-crash\/#%E2%80%9CCrypto_investors_panic_amid_digital_coin_bitcoin_crash%E2%80%9D\" >&#8220;Crypto investors panic amid digital coin, bitcoin crash&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCrypto_investors_panic_amid_digital_coin_bitcoin_crash%E2%80%9D\"><\/span>&#8220;Crypto investors panic amid digital coin, bitcoin crash&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Crypto investors were panicking on Thursday as bitcoin and other digital coins continued to plummet. <\/p>\n<p>Victims of the bloodbath \u2014 which comes amid a broader stock market rout \u2014 range from the billionaire crypto titans who run leading marketplaces such as Coinbase and Binance to lowly retail investors who have poured their life savings into cryptocurrencies.  <\/p>\n<p>\u201cI lost over 450k usd, I cannot pay the bank,\u201d reads one of the top posts on the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a> forum for Terra Luna, a cryptocurrency that has lost more than 99% of its value over the past week. \u201cI will lose my home soon. I\u2019ll become homeless. suicide is the only way out for me.\u201d\u00a0<\/p>\n<p>\u201cMy ex-colleague attempted suicide,\u201d reads another top post on the forum. \u201cHe basically moved all of his savings to crypto in 2021 and LUNA was a massive player in his portfolio.\u201d\u00a0<\/p>\n<p>While Luna\u2019s collapse is the most spectacular, other cryptocurrencies are also in freefall. Bitcoin was trading around $29,000 midday Thursday, down 17.7% over the past week and nearly 60% lower than its all-time high of $69,000 in November 2021. Other major cryptocurrencies including ethereum and solana are now worth fractions of their all-time highs. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_13.jpg?w=1024\" alt=\"&quot;In crypto, the strong survive and the weak get flushed,&quot; said Garrick Hileman, research chief at Blockchain.com.\" class=\"wp-image-22243746\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_13.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_13.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_13.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>\u201cIn crypto, the strong survive and the weak get flushed,\u201d said Garrick Hileman, research chief at Blockchain.com.<\/figcaption><figcaption><span class=\"credit\">NurPhoto via Getty Images<\/span><\/figcaption><\/figure>\n<p>The entire cryptocurrency market now has a market capitalization of $1.2 trillion \u2014 less than half of the $2.9 trillion it was worth in November, according to CoinMarketCap <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/\">data<\/a>. <\/p>\n<p>\u201cThere\u2019s a lot of folks out there who have taken some real bruises.\u201d said Garrick Hileman, research chief at Blockchain.com. \u201cIn crypto, the strong survive and the weak get flushed.\u201d<\/p>\n<p>The ongoing rout gives fuel to detractors who have long argued that the decentralized digital currencies were a frothy fad fueled by low interest rates and pandemic-era stimulus checks. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Charlie-Munger-46.jpg?w=1024\" alt=\"Charlie Munger\" class=\"wp-image-22243757\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Charlie-Munger-46.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Charlie-Munger-46.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Charlie-Munger-46.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Berkshire Hathaway\u2019s Charlie Munger called cryptocurrencies a \u201cvenereal disease.\u201d <\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Prominent crypto critics include JPMorgan Chase boss Jamie Dimon, who once said bitcoin is \u201cworthless\u201d \u2014 as well as billionaire Berkshire Hathaway executives Warren Buffett and Charlie Munger. <\/p>\n<p>The 98-year-old Munger recently referred to cryptocurrencies as a \u201cvenereal disease\u201d that he was \u201cproud\u201d to have avoided. Berkshire Hathaway shares are up 6.6% over the past six months, while bitcoin is down 54%. <\/p>\n<p>The crypto crash comes as the Federal Reserve hikes interest rates in an effort to cool inflation, sending high-risk tech stocks into a tailspin. The tech-heavy Nasdaq composite index is down 28% over the past year and has been heavily correlated with the price of bitcoin in recent weeks, according to Refinitiv data.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cWe see more overlap in ownership than we ever have, this kind of convergence between Wall Street and crypto,\u201d said Hileman, who\u2019s also a visiting fellow at the London School of Economics. <\/p>\n<p>Investors who poured their money into buzzy tech stocks have taken a beating alongside crypto fanatics. <\/p>\n<p>\u201cNeed help: LOST EVERYTHING in the stock market,\u201d reads a popular post on the corporate message board Blind. \u201cI invested every last dollar I saved in the stock market and I\u2019m currently down almost 85%.\u201d <\/p>\n<p>The self-identified 29-year-old Home Depot corporate employee said he mostly owned shares of tech firms including Meta, Peloton and Spotify.<\/p>\n<p>\u201cThey have all s\u2013t the bed,\u201d the employee raged. \u201cSame thing with crypto.\u201d <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_12-1.jpg?w=1024\" alt=\"Bitcoin\" class=\"wp-image-22243828\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_12-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_12-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/bitcoin_12-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin\u2019s performance is increasingly correlated with tech stocks. <\/figcaption><figcaption><span class=\"credit\">NurPhoto via Getty Images<\/span><\/figcaption><\/figure>\n<p>Bitcoin\u2019s plunge is likely to scare off some of the retail investors who poured money into crypto during its stimulus-fueled surge, while potentially enticing those hoping to buy the dip, according to Chris Kline of Bitcoin IRA. <\/p>\n<p>\u201cIt takes away the tourists from the true believers,\u201d said Kline, who\u2019s the COO and co-founder of the crypto retirement investment site with 100,000 users. \u201cThere will be folks that say, you know what, crypto\u2019s just not for me. But there will probably be just as many new folks coming into the market.\u201d<\/p>\n<p>Shares of Coinbase, the only major publicly traded cryptocurrency exchange, have fallen 83% since the company went public in April 2021. The company warned customers on Wednesday that their cryptocurrency holdings could be at risk if Coinbase goes bankrupt, although CEO Brian Armstrong insisted that bankruptcy isn\u2019t in the cards. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Brian-Armstrong-94.jpg?w=1024\" alt=\"Coinbase\" class=\"wp-image-22243863\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Brian-Armstrong-94.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Brian-Armstrong-94.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Brian-Armstrong-94.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Coinbase CEO Brian Armstrong insists his company won\u2019t go bankrupt \u2014 but his company warned customers that their cryptocurrency holdings could be at risk. <\/figcaption><figcaption><span class=\"credit\">Getty Images for Vanity Fair<\/span><\/figcaption><\/figure>\n<p>While Hileman is optimistic about cryptocurrencies\u2019 long-term prospects, he said the current downturn shows amateur investors need to be careful.<\/p>\n<p>\u201cI feel for anyone who has been badly beaten up by what\u2019s h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening,\u201d he said. \u201cYou shouldn\u2019t put more into this than you can afford to lose.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/12\/crypto-investors-panic-amid-digital-coin-bitcoin-crash\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Crypto investors panic amid digital coin, bitcoin crash&#8221; Crypto investors were panicking on Thursday as bitcoin and other digital coins continued to plummet. Victims of the bloodbath \u2014 which comes amid a broader stock market rout \u2014 range from the billionaire crypto titans who run leading marketplaces such as Coinbase and Binance to lowly retail&#8230;<\/p>\n","protected":false},"author":1,"featured_media":445991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/ethereum-73.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,129076,70971,76127,73711],"class_list":["post-445990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-5-12-22","tag-billionaires","tag-cryptocurrency","tag-investments"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/445990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=445990"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/445990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/445991"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=445990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=445990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=445990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}