Cryptocurrency Has Finally Crashed and the Result Should be Hard and Fast Regulation.
When the tide goes out, you find out was swimming naked.
Crypto is in the toilet. For those who had hoped that decentralized currency would replace fiat money and usher in a new world era of peace and prosperity, the crypto market crash has been undeniably brutal. With cryptocurrency markets losing almost $1.7 trillion in value over the past five months, the well overdue death of the crypto farce finally seems to have arrived.
To give some perspective, the market value of cryptocurrencies was nearly $3 trillion on Thanksgiving during the month of November in 2021. By the time the IRS (USA) tax filing deadline of April 18 came around, crypto markets had fallen to $2 trillion, and as of the writing of this article, crypto markets have plunged by another 35%, to about $1.3 trillion.
Many critics of cryptocurrencies (myself included) have long argued that crypto will disappear because it is based on nonsense, and it further helps criminals move contraband and launder money. This recent major crash with crypto will…
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