Is the crypto market dead? Here's what experts have to say

economictimes.indiatimes.com:

cryptocurrency market was a huge blow to the investors as it wiped out $1 trillion in market cap from the industry. The carnage was so intense that major cryptocurrencies, including behemoths like Bitcoin and Ethereum, lost up to half of their value from the peak, while other altcoins felt more pain. The tapering cues from the Federal Reserve, rising bond yields, crackdown signals and regulatory strictness weighed on the sentiments of the crypto space.

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It appears that the world is coming to an end for the crypto community, and the crypto market is a dead rubber. After a brief recovery, the digital token market was back in red on Monday afternoon. The crypto market has tumbled lately, said WazirX Trade Desk, adding that it's too early to say that the crypto market is dead. Supporting his argument, it said that Intel is stepping into the Bitcoin mining industry — planning to unveil a bitcoin mining chip, and about 300 banks have plans to launch bitcoin trading in the first half of 2022. «Microsoft has purchased Activision, a leading game developer in the world, reiterating its focus on 'Metaverse' and Instagram plans to integrate NFTs while Twitter is rolling out NFT verifications,» it added. Market experts said that the latest fall in the crypto market is not any industry-specific phenomenon. Financial markets across the board have taken a hit, jittering the sentiments in the digital token space. Unfortunately, crypto is still quite correlated with the stock market, and anything that happens there will eventually affect the crypto market,