WSJ: Investors are worried about the arrival of a new round of crypto winter.

On December 2, according to The Wall Street Journal, the dumping in the cryptocurrency market is intensifying. Bitcoin and other digital tokens are experiencing a broader downturn that is sweeping through all high-risk trading markets. In recent months, unprofitable tech companies, speculative shell firms, and “Meme” stocks have fallen out of favor. Patrick Horsman, Chief Investment Officer of crypto financial management firm BNB Plus, stated that as investors grow increasingly pessimistic about the market and economic outlook, they are lowering their risk exposure. Horsman said, “I think we might see Bitcoin fall all the way back to $60,000. We don't think the pain is over yet.” Strong rebounds and nauseating falls have been a constant since the early days of the crypto industry. In the previous “crypto winter,” Bitcoin and other major digital assets lost up to 80% of their value before reversing. Each prior cycle (including the winter of 2022) was to some extent triggered by investors' concerns over widespread fraud. The current dumping is reassuring for some while perplexing for others because there is no new Mt. Gox or FTX—these collapses of crypto firms had previously propelled broader market crashes.