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[crypworld]

With global climate change, stock market decline and inflation soaring, this has a great impact in the crypto market as well. Crypto kept crashing right from the end of November 2021 with no signs to revive in the near future.

Brian Armstrong, CEO of Coinbase, one of the top crypto exchanges made an announcement today that the company was forced to layoff 1100 employees immediately. This results in !8% of it's workforce been cut off. The laid off employees were given an hour's notice and informed via their personal email addresses.

If the crypto industry drops again further, surely we are going to witness many more crypto layoffs. There are crypto enthusiasts who strongly believe we would overcome the present crisis soon and many are taking advantage of the dips. Would the cryptocurrency market rise again? What is your opinion?​

 

[Vladv26]

The cryptocurrency market will surely rise again in the future. The only question is, when is that going to happen? With all of these tragic events happening all around the world nowadays this is a very hard thing to predict. It seems things are not as stable as they once were and we cannot anymore predict anything for sure. I belive you can still wait a bit for the price to drop even more because things are not looking so bright in the next couple weeks.

 

[ELSA-ELI]

This is a very sad news and we ought to take a leaf from,that a crumbling economy can never mean well for us.It is rediculus and such a bad sign or indicator.This means alot of people are not making investments but rather trying to make withdraws.For those determined they are trying to hodl but it is so depressing.

Wish there could be immediate measures that can be implemented to prevent the loss of jobs.

 

[Horia_10]

We can estimate that the prices are surely going to fall to $10k because Russia is a big country and when that is involved in war , the country will need food and petrol when doing the fight so they will sell their assets to buy food which will become costlier and the prices of the goods will increase while Crypto assets will fall in the long run till the situation remains like this indeed .

 

[fiery phoenix]

The market will recover but not any time soon,my thoughts are that we will finish the year 2022 in bears and the market will start recovering maybe at the end of 2023.But anything is posiible in these markets and the bull season might even come back sooner

 

[Balint098]

Coinbase is heavily regulated and is among the top crypto exchange in the US. I hope they can survive this bear market, even if their stock reaches new low record starting early this month. Holder should keep holding to avoid losing their investment during the crash. It will pass.

 

[Horia_10]

I do not believe that the markets will come back that much fast as the markets are already near $21k range , So lot of people have started to invest again but I will still say that the market is unstable just at the point and anything can happen actually from here-on to the market

 

[gammarays]

This current crypto crash will have a devastating impact on many blockchain companies. Most of them are nearing liquidation so are putting measures to cut cost.
Cutting costs shouldn't affect low income workers.

 

[Horia_10]

The effect of the crash should now start to become lower as the market has survived $20k scare and once if it survives it more , it can actually start to grow and move up towards $25k , this is the right time to buy , if you want to take your chance ,Just make sure you put enough money make a decent profit & also a stop-loss to avoid a loss situation that is too much , may the best happen and you get a profit :-)

 

[fiery phoenix]

The effect of the crash should now start to become lower as the market has survived $20k scare and once if it survives it more , it can actually start to grow and move up towards $25k , this is the right time to buy , if you want to take your chance ,Just make sure you put enough money make a decent profit & also a stop-loss to avoid a loss situation that is too much , may the best happen and you get a profit :-)

It has found some support around $20k but that support is not strong it will be broken in just a matter of days.So if it were me I wouldn't buy because the support might just take us to around 24k-26k and then we will possibly come crashing down again,this time to stop that support at $20k

 

[Horia_10]

Yes , you might be right but I am sure at this moment we are not going straight to $20k as the support is enough strong to test at-least the resistance but if it is broken we are minimum seeing the bitcoin market at $17k which js another 20% loss from now let's see what happens next .

 

[Wisdom01]

I think it's because if the market crash , Coinbase stock have really dropped since they are not good economically ,they have to retrench some workers so they won't owe outstanding salaries ,I actually hope Coinbase could get over this issues at the same time too ,I hope Bitcoin get boost

 

[Balint098]

Their stock also took quite a nosedive. A few weeks ago, the CEO warns that if the exchange face bankruptcy, it will go down with the investors' asset, and they won't be able to withdraw their coins. Let's see if they can weather this upcoming recessions.

 

[fiery phoenix]

Their stock also took quite a nosedive. A few weeks ago, the CEO warns that if the exchange face bankruptcy, it will go down with the investors' asset, and they won't be able to withdraw their coins. Let's see if they can weather this upcoming recessions.

Did the investors agree to this statement.I guess Coinbase lost a lot of investors because of that decision.Who would want to be denied the ability to withdraw in a critical time especially like this the crypto market is in.Not only is the crypto market contributing to the to their stock depreciating,its also contributing to them making poor decisions.Thats why you can never trust centralised exchanges like Coinbase

 

[Ivanr01]

Well normally when there arent so much money about salaries on these workers, they to be kicked out. Most of them are working in USA and these salaries are too high to be supported only by the fees of their crypto exchange

 

[Balint098]

Did the investors agree to this statement.I guess Coinbase lost a lot of investors because of that decision.Who would want to be denied the ability to withdraw in a critical time especially like this the crypto market is in.Not only is the crypto market contributing to the to their stock depreciating,its also contributing to them making poor decisions.Thats why you can never trust centralised exchanges like Coinbase

Nah, obviously none of the investors are happy about that. A lot of customers already withdrawn their crypto from the exchange. But the cause of that is mainly because of the crypto meltdown, not the CEO's announcement. Some people are hesitating to use that exchange again, tho.

 

[fiery phoenix]

Well normally when there arent so much money about salaries on these workers, they to be kicked out. Most of them are working in USA and these salaries are too high to be supported only by the fees of their crypto exchange

So are we to say that job safety for crypto exchange workers is entirely dependant on the success of the crypto market(bull runs).If thats so then all those workers at exchanges should opt for better jobs before being told to leave because the markets are going to get worse.And if its because they were paid high pay,why not just reduce the pay a little and let them keep their jobs

 

[Ivanr01]

So are we to say that job safety for crypto exchange workers is entirely dependant on the success of the crypto market(bull runs).If thats so then all those workers at exchanges should opt for better jobs before being told to leave because the markets are going to get worse.And if its because they were paid high pay,why not just reduce the pay a little and let them keep their jobs

Just calculate it. Average salary $3000 for 1100 employers is $3.3M... This is very huge amount for the company,no matter where it is located. Are you sure that there workers will stay there for just $1k,because I am pretty sure that they wont stay for this amount. Salaries are very stable. You just cant reduce randomly your worker salary

 

[Balint098]

For American crypto users, Coinbase is irreplaceable, so I hope the company can survive this bear market, since it's not easy to obtain license to legally operate a crypto exchange in the USA with their strict financial regulations and law. If we lose them, then that will surely make a dent in btc valuation.

 

[fiery phoenix]

By market value Coinbase is the largest crypto exchange in the US and probably in the entire world.If crypto exchanges are to face insolvency issues or liquidity problems it would be the last to be affected.The smaller exchanges are the ones at risk tumbling and as result cause the continuation of bear runs but they will not make a big impact like the one which will be caused by Coinbase or Binance.So as of now the US is still safe in terms of crypto