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As of June 2022, more than 19,000 different cryptocurrencies are on the market. Over the past few years, interest in crypto has grown rapidly, partly because it is more accessible to retail investors than traditional investments.
Bitcoin, which was trading around $10,000 during the late summer and into the fall, reached a peak of over $63,000 in April before losing nearly half its value in recent weeks. Crypto is a lot of things, including terribly explained. We're here to clear things up.
Until fairly recently, if you lived anywhere other than San Francisco or New York, you probably didn't know much about cryptocurrency. But that's all changing now that cryptocurrencies have gone from a curiosity to a sizable force in finance, technology, and culture.
There are now dozens of different mainstream cryptocurrencies, and the total market capitalization of all cryptocurrencies is now over $2 trillion. This has led to a lot of interest from investors, both large and small.
However, it's important to remember that cryptocurrencies are still a relatively new and volatile asset class. The price of Bitcoin, for example, has been known to fluctuate wildly in a short period of time.
If you're thinking about investing in cryptocurrencies, it's important to do your research and understand the risks involved. You should also only invest what you can afford to lose.
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