Two trillion dollars evaporated from the cryptocurrency market in 12 months

Investors in the cryptocurrency market have lost more than two trillion dollars in only one year, since digital currencies in this period last year they were flying in high to reach their heights and investors from all over the world were pouring into the market to take advantage of the astronomical profits that are being made.

In November 2021, investors described “Bitcoin” as the future of money and “Ethereum” as the most important developed tool in the world, and the prices of the two cryptocurrencies were seeing a record that in later turned out to be the peak before it started dropping.

A report published by the American network “CNBC” recalled that the “Bitcoin” currency had surpassed the level of 68,000 dollars during this period last year, but has lost about 70%. in only 12 months.

“Bitcoin” collapsed along with the shares of the world’s leading tech companies, which have also collapsed in recent months.

The value of the cryptocurrency market was previously estimated at around $ 3 trillion, but this market is now only around $ 900 billion, having lost more than two-thirds (70%) or more than two trillion dollars, according to one. report by “CN” BBC “.

Rather than acting as a hedge against inflation, which is approaching its 40-year high, bitcoin proved to be another asset speculative that explodes and plummets when enthusiasm melts and investors are scared.

The CNBC report states, “In the blink of an eye this week, the $ 32 billion company (FTX) sank and is now on the verge of bankruptcy as its liquidity runs out, as clients have asked to withdraw. their money and a rival company withdrew from a deal with it.Its founder, Sam Bankman-Fried, admitted Thursday that his company was collapsing.

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