Delhomme – From cryptomania to cryptocrash

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EDITION. The cryptocurrency market is collapsing. Businessman Warren Buffett wouldn’t sell all of the world’s bitcoins for $25. Meditate…

Between November 10, 2021, when it peaked at $69,000, and May 19, when it traded at $28,600, Bitcoin fell 58%.
© Jean-Luc Flemal/BELPRESS/MAXPPP

By Pierre Antoine Delomme

Published on 05/26/2022 at 07:00

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TYou, those who in recent months, succumbing to the sirens of financial modernity, have decided to invest all or part of their savings in cryptocurrencies, are probably not sleeping idly today. Seeing not only their dreams of quick and lazy riches disappear, but above all the value of their hipster portfolios melt away.

Between November 10, 2021, when it peaked at $69,000, and May 19, 2022, when it traded at $28,600, Bitcoin fell by 58%. However, nothing compared to the 99.99% drop in less than two days for Luna, another cryptocurrency that is considered less volatile because it belongs to a subset of the misnamed “stablecoins.” This is at least 30 billion dollars, which …

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