On December 2nd, according to the Wall Street Journal, the sell-off in the cryptocurrency market is intensifying. Bitcoin and other digital tokens are suffering from a broader downside that has swept through high-risk trading in all markets. In recent months, unprofitable technology companies, speculative shelf companies, and "Meme" have fallen out of favor. Patrick Horsman, chief investment officer of crypto financial management firm BNB Plus, said investors are reducing their risk exposure as they become more pessimistic about the market and economic outlook. "I think we may see Bitcoin fall all the way back to $60,000. We don't think the pain is over," Horsman said. Strong rallies and sickening declines have been seen since the early days of the crypto industry. In the previous "crypto winter", Bitcoin and other major digital assets lost up to 80% of their value before reversing.
Each previous cycle, including the winter of 2022, has been triggered in part by investor fears of widespread fraud. The current sell-off is reassuring to some and hard to explain to others because there is no new Mt. Gox or FTX - the crypto crashes that helped fuel the broader market crash.
The Wall Street Journal: Investors are concerned about the arrival of a new crypto winter
2025-12-02 11:35:24
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