Subitha Subramaniam, chief economist and head of investment strategy at Sarasin & Partners, said if oil prices remained high for a sustained period: "It will start to cascade into other prices such as food, agriculture, industrial commodities and that's just going to really bleed into inflation."
While the current turmoil invites comparisons to 2022, it should also be noted that other factors helped to drive the two-year “crypto winter” that began around the time of Russia’s invasion. Namely, the collapse of Bitcoin’s price also coincided with the implosion of FTX, TerraForm Labs, and other major crypto firms.
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Waning Crescent - A thin sliver of light remains on the left side before going dark again.