Why Is Crypto Still So Volatile Despite Support?

Cryptocurrency, once hailed as the future of finance, is facing significant volatility despite a year of favorable conditions. This past year saw increased mainstream investment, industry-friendly legislation, and presidential support. However, Bitcoin has plummeted 30% from its early October high, a steeper drop than the general stock market.

Actor Ben McKenzie, a vocal critic, recently premiered his documentary "Everyone Is Lying to You for Money," which delves into the market's current meltdown. McKenzie suggests the volatility stems from a decelerating economy, with crypto acting as a barometer for speculative markets. He also points to corporate investment strategies, like MicroStrategy's, and the high leverage employed by investors as key factors contributing to rapid price collapses.