The Normie’s Guide to This Week’s Crypto Crash

Posted on AllSides May 12th, 2022
From The Left
ANALYSIS

As much as markets are going through it right now, cryptocurrencies are really going through it, and the myriad disasters haven’t abated just yet. Fortunes have been lost. Memes have been deflated. Normal people have had to learn what it could possibly mean that El Salvador is “buying the dip.” What does it mean? What’s going on with Bitcoin? Stablecoins, huh?? Let me catch you up.

Let’s start with the biggest boy. On Monday, Bitcoin sharply plunged in value along with other popular digital currencies, leading to an $800 billion loss in the overall cryptocurrency market as of this...

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