Bitcoin Is Marked Down As Crypto Winter Wipes Out Billions In Market Value

We’ve Been Here Before

It’s important to keep in mind that we’ve gone through painful crypto wipeouts before. We’re still in the early stages of this nascent technology, after all, so volatility remains high.

Bitcoin Oversold… But Could Fall More

At $30,000, Bitcoin is more than 55% off its all-time high. If you like Bitcoin, this should appeal to you. Imagine having your eye on a pair of Balenciaga’s controversial new shoes, retailing for $1,850. If the fashion house were to knock 50% off the price tomorrow, you’d probably be more likely to buy them.

Stocks And ETFs Also Under Pressure

Until now I’ve only been focusing on Bitcoin and cryptos. The truth is they’re not the only risk assets under pressure at the moment, as many of you brave enough to peek at your 401(k)s are well aware.

Through It All, Gold Has Demonstrated Resilience

I’m pleased to say that, despite the meltdowns that are happening all around us, gold has remained highly resilient. Year-to-date, the yellow metal has dipped a slight 1%. This has helped savvy investors offset some of the losses they may have experienced so far this year.

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