The Crypto Financial System Rediscovered What the Traditional System Had Discovered in 2008

In 2022, the crypto financial system rediscovered what the traditional system had discovered in 2008. The total market value of all cryptocurrencies fell from about $3 trillion in late 2021 to about $1 trillion in June 2022. Two-thirds of all crypto wealth just vanished. Bitcoin was worth more than $67,000 at the peak in October 2021. It fell below $20,000 in June 2022 and Ether went from $4,800 to under $1,000.