Crypto has entered a bear market in 2022

crypto market has cratered from its peak valuation of $3 trillion in November to $1.3 trillion this week. Bitcoin has lost 38% YOD

second-biggest crypto and frequent gauge for sentiment — has plunged more than 53%. And weekly NFT sales have tumbled 80%  

3 attacks on hugely popular NFT company Yuga Labs. Hackers this weekend just made off with roughly $360,000 worth of Bored Ape NFTs. 

The stock market has also traded in the red, and the tech-heavy Nasdaq is down roughly 23% on the year. 

dramatic volatility in the digital asset market shouldn't be surprising, according to Georgetown University finance professor James Angel. 

Bitcoin goes through phases of euphoria where some people think it will go to infinity and then phases of disillusionment when people figure out there is not much you can do with it 

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