• Wed. Jun 22nd, 2022

Bitcoin takes a big dip after hitting record highs in 2021

ByHazel R. Lang

May 12, 2022

WEST PALM BEACH, Fla. — The cryptocurrency crash is currently separating the faithful from the ambitious investors.

Bitcoin – the most stable coin in crypto – has fallen significantly from its high of $67,000 in November 2021.

Bitcoin dipped to $25,000 on Thursday but rebounded to over $28,000 in the afternoon.

Cryptocurrency volatility is something that financial experts have been warning about for many years.

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The digital coins do not follow any stock market trend, but experts said that this drop is expected in the cycles of the currency.

It also comes at a time when markets have been hit by the latest US inflation data.

WPTV

Steve Bumbera explains that cryptocurrency investors must be prepared to endure the ups and downs that come with its volatility.

“You have inflation. You have a potential recession. You have negative GDP,” Many Worlds developer Steve Bumbera. “You have a lot of global economic issues. It’s like money isn’t safe anywhere right now.”

Bumbera helps businesses understand how to connect business operations in the real world of finance and the world of crypto.

He said this latest cryptocurrency crash was expected.

“Everyone should ask themselves why they invest in anything in the first place. If you think crypto is going to change the world, if you think the chains and coins you invest in and accumulate in are going to turn positive changes in the coming years, so this is an opportunity,” Bumbera said. “If you were just trying to make money playing the volatility of the crypto market, well that’s up to you. That’s the risk of trading.”


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