Why We're All in the Red: A Crypto Market Emergency Update

It’s perhaps appropriate that our 13th episode is an unscheduled one discussing the current, dire state of the crypto market. 

 

At times like this, it’s often good to get a bit of context. When your net worth has taken a dive, it’s natural to want to know why. This episode should provide some explanations as to what’s going on out there.

 

The principal reasons for the downturn in crypto - and other markets - are macroeconomic factors. The world is going through one of the most turbulent periods in recent history and the fear, uncertainty and doubt these conditions create is being reflected in the global economy. Covid is still with us and the effects of the measures to counter it are being felt more acutely than ever. The war in Ukraine drags on and asset markets everywhere are feeling the sting.

 

But there are some specific factors affecting the crypto market too, the biggest of which has actually got worse since we recorded this episode. Terra’s UST stablecoin has slipped spectacularly off its dollar peg and thousands of holders of UST - Guy included - are currently out of pocket as a result. Fear is up, confidence is down.

 

We can’t offer much in the way of cheer in this episode, but sometimes a little clarity can go a long way. Stay strong and don’t do anything rash.

 

We hope you enjoy the show.

 

Producer for iHeart Media: Noel Brown

Editor: Sam Moult

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