Cryptocurrency markets collapse to their lowest levels in years, but it’s not all good news for gamers

The last few days have seen a cryptocurrency bloodbath, and the declines may not be over. Put simply, the world economy is going to hell, and crypto is coming with it.

There are a combination of factors behind the precipitous drop. Wider economic issues are certainly a major factor. Rising inflation and the rapid raising of interest rates to combat it are adding major cost of living pressures. Wages aren’t rising enough to offset it, meaning people have less purchasing power. Flow on effects including rising energy prices and falling asset value are creating conditions that are ripe for a major economic downturn.

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