Bloomberg Law
July 27, 2022, 8:15 AM

Why Another ‘Crypto Winter’ Is Test for Digital Money: QuickTake

Olga Kharif
Olga Kharif
Bloomberg News

The latest slump in digital assets has been gut-wrenching for those investors who bought in at the peak last year. Even crypto diehards, while still convinced that the world is on the verge of a blockchain-driven revolution in finance, were left shaken by the market rout. To those still keeping the faith, the “crypto winter” will be like the dotcom bust of the early 2000s -- weeding out failing ventures to make room for more promising startups. Others wonder if spring will ever come.

1. What is a crypto winter?

It’s similar to a bear market in other assets. Stocks ...

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