Bitcoin Drops to $5,000 and Lots of Jobs: They’re Predicting a Colder-than-Expected Crypto Winter

What was seen coming, but which even the most pessimistic did not want to predict, the so-called crypto winter, is apparently about to get much colder for Bitcoin investors. This is because after the TerraUSD crash in 2022 in May and on a steady decline from a peak near $69,000 in 2021. November 2023 the future looks rather uncertain.

You can read: New York has announced a ban on new Bitcoin mining rigs for the next two years

And this is that next to the recent collapse of the FTX exchange, Bybit, Swyftx and crypto exchange giant Kraken are now being added, which are cutting their workforce by around 30% and 35% respectively. As commented in the middle BloombergSwyftx CEO and Bybit CEO Ben Zhou warned that “we are entering an even colder winter than we expected.”


That’s what BlackRock Inc. CEO Larry Fink thinks, too, saying that “most” cryptocurrency companies won’t survive the fallout. due to the collapse of FTX. The sentiment is shared by Standard Chartered’s global head of research, Eric Robertsen, who believes that Bitcoin’s value by 2023 will will fall further and reach as low as $5,000.

A crypto winter that is also freezing NFT platforms, as evidenced by the data provided by the gaming platform NFT Baltazarin 2022 in November The resumption of the NFT marketplace was marked by a new record low for monthly NFT sales in the top 5 markets combined, at around 394.02 million. USD.

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