Experts say this is due to the broader global climate. It's not just in the cryptocurrency world that things don't look good. Recession looms, inflation soars, interest rates rise and living costs are scathing. Stock markets are also reeling, with the US S%26P 500.
The US is now in a bear market (20% lower than its recent high). Because they are affected by the same factors that affect stocks and other assets. So why is crypto blocked? It's important to remember that in this latest cycle, crypto assets aren't alone. The stock market has also been suffering a decline, as US policymakers seek to control inflation by tightening the money supply and raising interest rates.
Today, Bitcoin and other cryptocurrencies are falling, and companies like Coinbase, which runs the largest cryptocurrency exchange in the U.S. UU. Reconsider what you might be more comfortable with in the future, such as allocating less to cryptocurrencies in the future or diversifying through cryptocurrency and blockchain-related stocks funds instead of buying cryptocurrency outright (although you should still expect volatility when cryptocurrency markets fluctuate). With up to 1.7 million customers, Celsius gained a cult following in the cryptocurrency world by announcing that users could earn an annual percentage return (APY) of up to 18% by depositing their cryptocurrencies on the company's platform.