This story is part of Power Money Moves, CNET’s coverage of smart money decisions for today’s changing world.
For the first time in five weeks, the cryptocurrency market reached a $1 trillion market capitalization (the total dollar market value of crypto today). But this rebound falls short of the market’s peak last November, which reached $3 trillion. In an economy with high inflation and recession risks looming, is it still worth diving into crypto waters?
After bullish highs in 2021, cryptocurrency dropped to pessimistic lows this year, tumbling into bear market territory which investors are dubbing another “crypto winter.” The $2 trillion crypto market crash 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 stablecoin terraUSD’s collapse in May.
While crypto is starting to trend upward, volatile 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
