Should You Really Be Investing In Crypto Right Now?
Last November, Bitcoin (CRYPTO: BTC) and Ether (CRYPTO: ETH) hit their all-time highs of more than $68,000 and $4,800, respectively. Many other smaller cryptocurrencies were also lifted by that rising tide.
But today, Bitcoin trades at about $20,000 while a single Ether token is worth roughly $1,100. Many of the smaller altcoins -- such as Dogecoin (CRYPTO: DOGE) and Cardano (CRYPTO: ADA) -- fared even worse.
That dizzying crash was largely caused by rising interest rates, which drove investors away from more speculative investments; the alarming failures of "stablecoins" like TerraUSD; tightening regulations for the crypto market; and liquidity issues at several cryptocurrency exchanges. Pricey publicity stunts -- including Coinbase's (NASDAQ: COIN) Super Bowl ad and Matt Damon's Crypto.com commercial -- also suggested the market was bubbling over.
Source Fool.com
