English
Arabic
Dutch
Finnish
French
German
Korean
Thai
From Bitcoin bros to Dogecoin memelords, there’s a common refrain in the cryptocurrency world, especially doled out to newcomers: “Be careful.” That’s because, as many people will tell you, cryptocurrencies are volatile by nature. This week’s crypto-panic is a perfect storm involving Chinese financial leaders and Elon Musk, which illustrates the risk of investing in both established cryptocurrencies like Bitcoin or Ether, and “shitcoins” or alt-coins like Dogecoin. Today, the price of bitcoin fell below $40,000, declining 30% in a single day as the value of Ether and Dogecoin plunged similarly.
The selling frenzy kicked off on May 12, when Tesla CEO (and recent controversial Saturday Night Live host) Elon Musk announced that Tesla had suspended their decision to allow people to buy cars using bitcoin. Musk cited environmental concerns about the bitcoin mining process, in which a…
