This story is part of Power Money Moves, CNET’s coverage of smart money decisions for today’s changing world.
From bullish highs in 2021 to pessimistic lows in 2022, cryptocurrency is now in a bear market, and investors are calling it another “crypto winter.” The $2 trillion crypto market crash has wiped out investor gains, cost thousands of people their jobs and obliterated once staple digital currencies, including the crypto token luna — which lost all of its value following the stablecoin terraUSD’s collapse in May. In this economy, is it still worth diving into crypto waters?
Highs and lows are nothing new in the crypto markets, and skeptics have long characterized crypto as an empty bubble destined to burst. Critics have called bitcoin, stablecoins and NFTs simply a new digital version of an old con primed to swindle and scam. But investors see the world of digital coinage as a step forward, a kind of “Money 2.0” that will democratize finance and power the metaverse. Amid the seesawing prices and teetering sentiments, one thing hasn’t changed: Cryptocurrency remains controversial, risky and wildly…
