While the crypto market has been tanking, wiping out billions of dollars in wealth and causing tech and business leaders to question the. By the numbers: Bitcoin shed 8% yesterday, and is worth less than half of its market value from six months ago. A Goldman Sachs basket of It seems that so many variables have contributed to the tanking of its value. On the macro scale, recession patterns as GDP fell for a second. PALINSESTO PARTITE SERIE A BETTER PLACE

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But some of the more modern currencies like Dogecoin have seen slight spikes of revival the other way in recent weeks.

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Bitcoin investors are in it for the long run, says Blockchain Association's Kristin Smith

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Petersen said the attitude towards cryptocurrency amongst residents is one of pure acceptance, which ultimately prompted the move. Bitcoin miners are now looking to set up a new operation in the Shenango Valley , while a restaurant in Fayetteville, Arkansas is allowing customers to pay for their meals with digital currency. Will the bitcoin price beat the odds and come back stronger than ever?

Post your comments below. Images via Quartz, Pixabay. Major stablecoins de-pegged from the U. Article continues below advertisement Source: Unsplash The sell-off in cryptos and bitcoin isn't unique and it's in line with the decline in global stock markets.

The latest trigger for the risk-off sentiment came as the U. Article continues below advertisement High inflation and Fed rate hikes unnerved crypto markets. The Fed has been trying to quell high inflation by increasing rates and wrapping its bond-buying program. It's scheduled to meet on June 14 and 15 at its latest meeting. Celsius provided the last straw. In a cascading turn of events, the elevated volatility in cryptos due to inflation, which led to expectations of higher fed hikes led a popular crypto lending company called Celsius to pause customer withdrawals.

This move sparked a fear that the contagion is spreading. Panic selling is the last thing you want to do now. The prices are falling as is and selling into this market will only accumulate your losses. Therefore, it's better to take a pause and think about your long-term thesis.

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Bitcoin investors are in it for the long run, says Blockchain Association's Kristin Smith

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