Who are the “shrimp investors” and the “whale” trying to save bitcoin from debacle?

Who are the “shrimp investors” and the “whale” trying to save bitcoin from debacle?

  • Cecile Barria
  • BBC News World

image sources, Getty Images

The cryptocurrency market crashed as the price of bitcoin fell 67% from its all-time high in November last year.

On Wall Street, they’ve dumped riskier investments, like cryptocurrencies, at a time when the shadow of a possible recession in the United States has moved large amounts of capital into more stable assets.

With creeping inflation sweeping the world, soaring interest rates and a global economic downturn which was fueled by the war in Ukraine, the market is going through a so-called “crypto winter”, i.e. an extended period of low prices for digital currencies.

To add fuel to the fire, plans to regulate the sector are being debated in the United States – which affects expectations on the price of crypto-currencies – as they appear more and more often fraud and non-transparent cases who went bankrupt.

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