The cryptocurrency market showed some signs of recovery in early 2023, but now it's back in dire straits again. Just when you thought the FTX meltdown might be over, another crisis rocks the crypto world. Silvergate Capital delayed filing its annual report and warned that it might be in financial trouble. This could start another protracted downturn, or you could see it as another chapter of the FTX saga.
So the crypto rally that started in January is taking a break again. Bitcoin (CRYPTO: BTC) prices are down 10% in two weeks and Ethereum (CRYPTO: ETH) has lost 8% over the same period. Moreover, ultra-volatile meme coins are taking even bigger cuts. Dogecoin is down by 14% and Shiba Inu has taken a 17% haircut over the same two-week span.
In this unpredictable market, many investors wonder whether cryptocurrencies will ever return to solid long-term growth.
Source Fool.com