Bitcoin prices seemed to stabilize on Tuesday—the cryptocurrency was up more than 4% and back above $90,000—after yet another sharp dive on Monday. But a story at the Wall Street Journal suggests that investors better bundle up for the possibility of a "crypto winter"—a long stretch of declining prices. "I think we could see bitcoin get all the way back to $60,000," Patrick Horsman of the crypto-treasury firm BNB Plus tells the outlet. "We don't think the pain is over."
Considering that bitcoin rose above $126,000 in early October, it's quite a selloff underway, one that has dragged down secondary crypto coins such as ether and solano, as well as stocks tied to the crypto sector, including Coinbase and Michael Saylor's bitcoin-heavy Strategy. In fact, Saylor's firm holds 650,000 bitcoin, about 3% of the world's supply, notes the Financial Times. But unless the price rebounds, Saylor says his company might break a longtime pledge and sell some of its bitcoin, which would surely further rattle the market.
Crypto's history is marked by wild booms and busts, with previous "crypto winters" seeing losses of up to 80%. Those downturns were often triggered by high-profile collapses, like Mt. Gox or FTX, but this time, no such implosion has occurred—leaving some reassured and others puzzled. As the Journal sees it, cryptocurrencies "have been caught up in a broader decline afflicting riskier trades across all markets."
,
uBlock 
,
and
Ghostery 
)
