DDCT #137 - 6/16/2022 (Three Big Reasons Crypto Is in Trouble Right Now)
31m | Jun 16, 2022#Bitcoin #KevinOleary #NFT
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ARTICLES used in today's video:
https://fortune.com/2022/06/15/ethereum-maximalist-mark-cuban-crypto-crash-warren-buffett-advice/
Ethereum maximalist Mark Cuban says the crypto crash reminds him of Warren Buffett’s advice: ‘When the tide goes out, you get to see who is swimming naked’
The cryptocurrency market is seeing a flash of failed and struggling projects amid a rough downturn that has left investors fearful over what’s to come.
Looking ahead, billionaire Mark Cuban sees extinction.
“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects—will disappear,” the Shark Tank investor and Dallas Mavericks owner told Fortune. “Like [Warren] Buffett says, ‘When the tide goes out, you get to see who is swimming naked.’”
https://ambcrypto.com/xrp-hinmans-speech-stuart-alderotys-comments-making-sense-of-it-all/
XRP, Hinman’s speech, Stuart Alderoty’s comments- Making sense of it all
The SEC filed a lawsuit in December 2020 against San Francisco-based firm Ripple Labs. The fintech firm allegedly raised funds through the sale of digital assets known as XRP in unregistered securities. It’s been more than two years, but a concrete outcome to this litigation seems far away.
Furthermore, repetitive delays are making things worse for XRP holders who blamed the SEC for the same.
https://www.nerdwallet.com/article/investing/cryptocurrency
Cryptocurrency: What it is and How it Works
What is cryptocurrency?
A cryptocurrency (or “crypto”) is a digital asset that can circulate without the need for a central monetary authority such as a government or bank. Instead, cryptocurrencies are created using cryptographic techniques that enable people to buy, sell or trade them securely.
How does cryptocurrency work?
Bitcoin and most other cryptocurrencies are supported by a technology known as blockchain, which maintains a tamper-resistant record of transactions and keeps track of who owns what. The creation of blockchains addressed a problem faced by previous efforts to create purely digital currencies: preventing people from making copies of their holdings and attempting to spend it twice
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Kevin O'Leary says the crypto market won't hit bottom until there's panic: 'we need someone to go to zero'
Kevin O'Leary said the cryptocurrency market won't hit a bottom until there is a panic event.
"In the crypto world, we need someone to go to zero," he told CoinDesk.
The "Shark Tank" star's comments come as cryptos continue to edge lower Wednesday.
Three Big Reasons Crypto Is in Trouble Right Now
If you’ve detected some digital tears amid the sea of ape and punk avatars on Twitter, it’s because—not for the first time this year—cryptocurrencies are experiencing a major nosedive. Bitcoin briefly dropped below $20,000 Wednesday morning for the first time since December 2020, and other popular currencies like Ethereum have also plunged to their lowest levels in years. Binance, the world’s biggest crypto exchange, had to halt Bitcoin withdrawals on its platform for a few hours on Tuesday. Yahoo Finance reports that on Monday, $1 billion worth of currency was liquidated from the market over a 24-hour period; overall, crypto has lost two-thirds of its market share since its November peak.
https://alternative.me/crypto/fear-and-greed-index/
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Dave
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