A crisis of mistrust hits the cryptocurrency market, and expectations are that it will reach “zero”

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A crisis of mistrust hits the cryptocurrency market, and expectations of it reaching “zero”, today, Saturday, June 11, 2022 04:46 pm

The cryptocurrency sectors are witnessing several crises in their prices after experiencing several declines, as the cryptocurrency is still mired in its declines as Bitcoin’s rally stopped at $ 30,000, while the Ethereum currency is trading around the $1,700 level.

And during the recent period, the state of mistrust of some investors towards this industry and digital currencies has increased, especially after it suffered many losses, as its critics increased.

Cryptocurrencies will get “Big Zero”

Mohnish Babrai, an economist and investor, said crypto investments deserved a “big zero” in the end, and stresses that the worst is yet to come in the industry despite the recent correction.

He added, in his statements to CNBC, that he expects a bad future for digital currencies, as the current situation of the digital currency industry is not good and many problems come in the future.

Risks of the rapid spread of new currencies

Babrai complained about the rapid spread of new currencies, and warned that there are new currencies and every hour new currencies are being invented. Investing in it is a very big adventure.

Babrai predicted that if the value of cryptocurrencies became zero, it would hurt a lot of people, who put a lot of money into investing in them.

During the trading of last May, digital currencies were subjected to a sharp wave of losses that exceeded 600 billion dollars, which began even before the collapse of the “Terra” and “Luna” currencies, as digital currencies are currently suffering from major collapses in their prices.


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