Why Bitcoin price’s fall below $82,000 threatens to trigger ‘another crypto apocalypse’ – DL News
The Roundup
- Bitcoin fell below $82,000 on Friday.
- This risks unearthing systemic weaknesses in the industry.
- Molly White warns it may trigger a cascade of collapses.
A version of this article appeared in our The Roundup newsletter on November 21. Sign up here.
Hi. Eric here.
Crypto markets are looking grim, and traders worry it will only get worse from here.
After Bitcoin’s price fell below $82,000 on Friday, analysts suggest collapsing prices threaten to unearth further industry weaknesses.
Think Terra’s collapse culminating with the implosion of FTX, and you get the idea.
“Collapses can be swift and brutal — as 2021 to 2022 illustrated — and some traders worry we’re due for a repeat,” crypto analysts Molly White wrote in her…
