One cryptocurrency analyst has issued a warning about the possibility of a chain reaction as the ទីផ្សាររូបិយប័ណ្ណ continues its downward trend, shedding $70 billion from its market value in a single day and being driven by the drop of its most valuable digital asset, Bitcoin (BTC អ).
Indeed, the Director of Financial Markets at OKX, the world’s second-largest ការផ្លាស់ប្តូរអេឡិចត្រូនិច by spot trading volume, Lennix Lai, said that the crypto industry could be in for a “domino effect” much like the one the ទីផ្សារហិរញ្ញវត្ថុ went through in 2008, ស្តង់ដារល្ងាច រាយការណ៍ នៅខែសីហា 19 ។
“The domino effect we’re seeing among crypto firms is akin to the 2008 financial crash among Wall Street firms,” he said.
Similarities to the 2008 crash
According to the report, at least ten crypto firms have collapsed or suspended user withdrawals since the year’s turn, with declining Bitcoin price claiming victims across the landscape, including the Terra (LUNA) ecosystem, lending firm អង្សាសេ (CEL), and others.
Similarly, back in 2008, Wall Street companies started dropping one after the other after the housing market collapsed and borrowers could no longer afford to pay off their mortgages, overwhelming ធនាគារ with loan losses on their balance sheets.
As Lai explained:
“Both cases resulted from institutions taking illogical risk, largely at the expense of អ្នកវិនិយោគ"។
Crypto bears come out to play
Lai’s warnings arrive as $70 billion is wiped from the crypto market cap in a day, eroding the gains achieved in the previous weeks, and leading ការជួញដូររូបិយប័ណ្ណ expert Michaël van de Poppe to opine that the current market cap is facing rejection at a critical resistance level.
As for Bitcoin, the industry’s largest cryptocurrency, it has បាត់បង់ ២,៤ ពាន់លានដុល្លារ from its market cap in 24 hours, failing to sustain the កើនឡើង momentum of the និន្នាការតម្លៃមធ្យមក្នុងរយៈពេលពីរខែ ថា ហ្វីនបុល រាយការណ៍នៅថ្ងៃទី៥ សីហា។
Meanwhile, Bitcoin was at press time trading at $21,452, representing a loss of 8.8% on the day, and 9.59% across the previous seven days, according to CoinMarketCap ទិន្នន័យបានមកវិញនៅថ្ងៃទី ១៥ ខែសីហា។
ការមិនទទួលខុសត្រូវ: ខ្លឹមសារនៅលើគេហទំព័រនេះមិនគួរត្រូវបានចាត់ទុកថាជាដំបូន្មានវិនិយោគទេ។ ការវិនិយោគគឺជាការប៉ាន់ស្មាន។ នៅពេលវិនិយោគ ដើមទុនរបស់អ្នកមានហានិភ័យ។
Source: https://finbold.com/crypto-expert-warns-of-domino-effect-akin-to-the-2008-wall-street-crash-as-bitcoin-plummets/