‘The Music Has Stopped’: Crypto Firms Quake as Prices Fall §
Key takeaways §
Highlights §
- The total value of the cryptocurrency market has dropped by about 65 percent since autumn, and analysts predict the sell-off will continue.
- And as people pull back from crypto investments, the outflow is exposing the unstable foundations of many of the industry’s most popular companies.
- At the time, dozens of dot-com companies were going public amid hysteria over the early promise of the internet, even though few of them made money. When confidence evaporated in the early 2000s, many of the dot-coms went bust, leaving just the biggest — such as eBay, Amazon and Yahoo — standing.
- Note: Pruning, just like synapses
- boom-and-bust cycles.