Posted 1/12/2024, 11:28:20 PM
Crypto Market Loses $100B After Bitcoin Price Plunge, But Rebound Expected in 2023
- Bitcoin and crypto prices have fallen sharply, wiping out $100B in market value
- The drop comes after a bitcoin spot ETF surge and warnings of a potential 30% BTC price crash
- Legendary trader Arthur Hayes predicted "a vicious washout" of crypto tourists by the Fed
- The Fed's interest rate hikes and balance sheet reduction in 2022 triggered a $2T crypto market crash
- However, bitcoin rebounded in 2023 as the SEC approved several spot bitcoin ETFs