4 ms·

Theres no secret about what happened. The government printed money and it caused worthless assets to sky rocket. Then they pulled the money away. Thats it. Ther

• toomuchtodo 4y ago
  This is somewhat reductionist. Yes, some "worthless" assets were inflated such as crypto. But so were "real" (or rather, those with a cashflow or some sort of tangible underlying value) assets like real estate, equities, etc. It seems straightforward that crypto is suffering from flight to safer assets and fear around the expected recessionary pressures, as well as no greater fools due to a combination of rising rates and broad sentiment.
• imtringued 4y ago
  That would imply that we have been in a liquidity trap all along and it is only now that interest rates have changed that more and more people are getting out of the asset markets to speculate on higher interest rates.