DECRYPTION – Since January, the cryptocurrency has lost 53% of its value. The current crisis differs from previous recessions.
Whether bitcoin is climbing to new heights or its price is falling, its variations are scrutinized by an army of specialists who are trying to predict the trajectory of the best-known cryptocurrency. While for two months the crypto sector has been facing a real “bloodbath”, disoriented investors are relying on the oracles. Changpeng Zhao, the founder of Binance, a purchase and exchange platform with more than 120 million customers worldwide, is one of the most listened to. He estimates that the currency, whose price fell around 20,000 dollars, will take “several years” to return to the 60,000 dollar mark.
The crisis of recent weeks has been marked by two painful episodes: a first drastic fall in the prices of almost all cryptocurrencies in May, before a brief passage of bitcoin, on June 19, below the psychological cap of 20,000 dollars – from never seen in eighteen months. Lack of liquidity, suspicions of insolvency of large companies in the sector, first layoffs within large groups that had been growing rapidly… The climate is particularly gloomy. However, there are warning signs of all these major variations, which you have to know how to spot. Here are the main ones.