Crypto collapse erases more than $1 trillion in wealth, forcing a reckoning for everyday investors Thousands of Americans who jumped into crypto investing over the past two years in hopes of a rocket ride to instant wealth now face a similar reckoning: Prices for cryptocurrencies — from relative stalwarts such as bitcoin and Ethereum to more exotic tokens — have cratered since reaching all-time highs in early November, wiping out an astonishing $1.35 trillion in value globally, nearly half of the total market, according to CoinMarketCap. The slide has accelerated over the past week as investors have fled riskier bets for safer harbors. The "crypto crash” has put pressure on Washington regulators to impose stricter rules on the industry — and raised fresh questions about the dangers of cryptocurrency for the average investor. “You’re going to get more people calling their elected representatives, generally unhappy about crypto or feeling they were wronged in some way,” said Ian Katz, managing director of Capital Alpha Partners, a Washington policy analysis firm. “All regulators and members of Congress want to appear to be alert behind the wheel, and if this turns out to be a continued bloodbath, it increases the impetus for action.”
Everyone wants to be rich overnight. They believe the pipe dream that putting your monies in crypto is the sure thing to unlimited riches.
Blue-chip cryptos like BTC and ETC won't vanish over-night. As for the others, let them burn. People who were not around to learn their lessons in 2017 ICO insanity are given their chances now to repeat it. Oh yeah, I hear the Doge-boy is no longer a millionaire. And to think he could have had 3 million at a young age and been set up for life.... but he wanted to wait until he had 10 million. Last I heard, he was trying to pump up doge by getting everyone else to buy into it to save himself. How now brown cow?
It will take you a long time, to lose that much monies. A lottery ticket costs only $2. I buy a ticket when the jackpot is in the hundreds of millions. Just 1 ticket. People have lost more monies in the Las Vegas casinos and probably, much more in the US markets.
%% I scratched a free lotto ticket a n auto dealer gave me; NEVER waste money on that cr*p LOL Markets are not gambling even though risk is involved + penny stocks are worse perhaps a than a gamble