What happened to crypto?

Cryptocurrency prices also dropped precipitously. The price of Bitcoin fell as low as $26,000 on Thursday, down 60 percent from its peak in November, before rising somewhat.

Is bitcoin ahead of other cryptocurrencies?

Yet bitcoin has actually lagged the surges for some other cryptocurrencies. While bitcoin has soared 15% in the past week to hit a new all-time high just under $20,000, ethereum – the second-largest crypto after bitcoin – is up more than 20% in the past seven days. Meanwhile XRP, the third-largest cryptocurrency, has surged nearly 25%.

Is the banking crisis linked to crypto?

Yet not everyone is convinced that the banking crisis is heavily linked to the lenders’ ties to crypto. Ultimately, the cause was probably a combination of poor risk management and macroeconomic issues, said Mark Williams, a former Federal Reserve bank examiner who teaches at Boston University.

Is crypto's collapse a 'perfect storm'?

Critics said the collapse was long overdue, while some traders compared the alarm and fear to the start of the 2008 financial crisis. “This is like the perfect storm,” said Dan Dolev, an analyst who covers crypto companies and financial technology at the Mizuho Group.