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IPFS News Link • General Opinion

Crypto CONTAGION spreads as Ponzi-like elements of the crypto ecosystem start unwinding uncontrol..

• https://www.naturalnews.com by Mike Adams

If you had crypto deposited with Celsius, you no longer technically own it since you no longer control it. Celsius just halted all withdrawals, which is something banks do when they are on the verge of collapse. Now the only real question is how far this systemic purge of the crypto bubble will go: Is Tether about to crater? What about Microstrategies, the largest holder of Bitcoin? CEO Michael Saylor is now publicly trying to assure everyone that Microstrategies won't collapse. Usually this is the kind of thing CEOs say when they are approaching collapse.

Bitcoin has plunged 70% and there's still a long way to go

Bitcoin itself has fallen from a high of around $69,000 to a little over $20,400 yesterday, representing a loss of just over 70%. "Bitcoin drops as much as 17%, falling below $23,000 as $200 billion wiped off crypto market over the weekend," reported CNBC.com which also covered the Celsius fiasco:

The crypto market has also been on edge since mid-May when the so-called algorithmic stablecoin terraUSD, or UST, and its sister cryptocurrency luna collapsed.

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