Bitcoin has increased in performance like any other commodity

Unlike most enthusiasts who drove interest in Bitcoin in the 2010s, these traders treated cryptocurrency as part of a larger set of high-risk, high-risk investments. depressing. Some of them are struggling to get a short-term refund for consumers and are less confident in Bitcoin’s long-term potential. And as they lose faith in the technology industry more and more, which affects their Bitcoin business.

“Five years ago, people in crypto were crypto people,” said Mike Boroughs, founder of blockchain investment firm Fortis Digital. “Now you get men who cross all the dangerous treasure. So when they get hit there, it affects their thinking.”

Concerns in the commodity markets – affected by competitive markets, including Russia, the impact of Ukraine and the history of inflation – have arisen particularly in their commodity markets this year. Meta, the company formerly known as Facebook, is down more than 40 percent this year. Netflix has lost 70 percent of its value.

On Tuesday, shares of Coinbase, the cryptocurrency exchange, also fell more than 10 percent after it reported earnings and loss of $ 430 million in the first quarter. The company’s stock has fallen more than 75 percent this year.

The Nasdaq was already in the bear market, ending last week losing 26 percent of its data in mid-November. Last November was also when Bitcoin prices hit a peak of nearly $ 70,000. The crash was the latest test for Bitcoin broadcast media.

Ed Moya, a cryptocurrency analyst at trading firm OANDA, said: “There is no denying this sale that Bitcoin at the end of last year was a hedge increase – it is a safe haven, it will change the dollar, “said Ed Moya, cryptocurrency analyst at OANDA. “And what happens is that inflation starts to get worse, and Bitcoin loses half of its value.”

The value of other cryptocurrencies has also been hit. The price of Ether, the second-largest cryptocurrency, has fallen by 25 percent just since early April, to below $ 2,300. Others, like Solana and Cardano, have also experienced declines this year.

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