Is the Cryptocurrency Market about to Explode?

8 Jun 2022

Investors are departing the high-tech Nasdaq in favor of what some consider to be the finest long-term investment choice that is now available.

Even though there are several obstacles, this is taking place.

However, analysts believe that the fall will continue, but it's hard to predict whether there will be a dot-com-style bubble crash.

Throughout the last decade, the technology stock market has been on an upward trajectory, with the likes of Google, Facebook, and Apple functioning as market leaders.

To achieve the apex, the United States of America had to go on lockdown in 2020, and its residents had to rely on an app for everything from their employment to their exercises to their food.

As a response to skyrocketing prices for gasoline and other physical commodities, the Federal Reserve boosted interest rates. When the Federal Reserve raised interest rates, everything fell apart.

Since Federal Reserve Chairman Jerome Powell announced a rise of 50 basis points in the fed funds rate, the Nasdaq has been trending negatively.

As a result, Coinbase's latest financial report suggested that customers may lose their investments if Coinbase went bankrupt, so cryptocurrencies have fallen in value significantly.

Customers who placed money with Coinbase were told that their money would instantly become the company.

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