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Every sector of the economy is taking a hit with inflation and interest rates going through the roof - even the crypto market is not left out.
With Bitcoin taking a huge dive, other cryptocurrencies are following suit. But that is not the highlight right now. What’s new? A popular crypto exchange just recently halted withdrawals.
Aside from the fact that people cannot withdraw their Bitcoin - which can cause panic on its own - investors are scared that other major players could do the same thing. This will make it even more difficult for users to recover their tokens.
The question now is will other crypto exchanges follow suit? Plus, will this lead to a further crash in the crypto market? Well, we just have to wait and see for ourselves.
How will Coinbase, Gemini, Binance, BlockFi, Crypto.com and all other crypto related platforms hold up over the coming six months to a year? Will we see a massive crypto crash or will we see just a small bump in the road in the pursuit of higher crypto highs and the targeted $100,000 Bitcoin price that so many have been anticipating.
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