The Fall of Cryptocurrency
We live in interesting times, specifically times that involve the cryptocurrency markets partially or completely unravelling. We are currently experiencing a crash of sorts, but it’s not apparent whether this is a crash or “the” crash — the latter being similar to the 2017 crash that brought Bitcoin from a high of around $19,000 to a low of under $4000.
In any case, here’s what’s happened:
- The “stablecoin” (a coin that theoretically is always worth, say, a dollar) Terra has completely fallen apart, due to the fact that its algorithmic balancing machine…