| Biography: |
He said: "The steep falls in crypto values are aggravated by a further consideration, which is that it is a market – unlike equities – dominated by retail investors. "It simply illustrates that this is a rapidly growing product and that there are risks to financial stability and we need a framework that's appropriate," she said. In the above table, we can see that past Bitcoin halving events have been able to establish long-term bullish drivers for Bitcoins price. The Bitcoin halving event relates to its deflationary tendency and crushing its supply, which helps the Bitcoin price to rise further. As BTC, being a decentralized cryptocurrency, cant be printed by any central banks or governments and thus Bitcoin’s total supply is limited. With Luna losing 99.9 per cent of its value, Terraform Labs the company behind Terra laid out a plan to sell their entire Bitcoin reserves to bring back the peg to $1, which they eventually failed to do. As a result, it wiped over $40 billion out of the crypto market. |