The world of cryptocurrency has been in an uproar for quite some time now. The market has been going through ups and downs where prices have increased and decreased drastically. As of recently, the cryptocurrency market crashed to all-time lows, causing many to fear that the bubble is bursting. But how is this crash effecting the global financial system? The answer is not yet clear and it’s still up in the air. The world is still in a state of chaos and uncertainty, and have leads to many people continue asking, "What will be the effect of crypto crash on the global financial system?

![images  20221218T063133.611.jpeg](https://i.imgur.com/rztaDt9.jpg)[source](https://www.dreamstime.com/photos-images/crypto-globe.html)

*The global financial system that has been the foundation for the world economy for centuries and its the driving force behind the development of new technologies, the creation of new goods and services, and the development of new markets. The market that provide financial institutions that are connected to each other, such that transactions between them can happen without any currency exchange*. 


Yes, It's a valid question to know the impact of this crypto crash on the global economy. Although this is yet to be seen but if the crypto market continues to decrease at a rapid rate, the impact will be felt by many and it going to affect global financial system. 


### How does the crypto crash effect the global financial system?

Crypto market is a decentralized marketplace where the transactions are made without any intermediary. And this market is gaining lot of momentum, is been used by many people today, and it is growing rapidly. Let say if the cryptocurrency market continue crashing, it going to have a ripple effect on the global financial system because crypto market is the new frontier for the global financial system with lot of trading assets digitally that provide financial means to people. 

Monetize money online had become easily with Crypto market and we have seen lot of impact and extension to the real world. Despite Crypto is not legalized in some countries, yet we have seen a lot of impact it takes in the midst of Nigeria youth, and other country like Ghana which I will say it's a great effect on the world. It provides job opportunity for people when there is no job, it made Investments so easy. Therefore, 1/4 of the world population are now embracing Crypto and that makes crypto been expand across many industry. Sport industry, entertainment industry, and many more. But the crypto crash this year has led to a lot of people realizing that cryptocurrencies will be a viable option for investing in the future and if this will be safety for the global financial system.

I don't what the future holds yet for Crypto but if the dip continue there is likely going to be fall in global economy and many people and industry  Investing in the market  are likely going back to square one. And if this happened it going to affect the whole economy because biggest boys, I mean the rich that are contributing to this economy by creating job or other things to build the economy also reliant on crypto. Although they're the whale that are deciding the crypto market they pull their rugs whenever they wish the market to go down and they buy back and that's when we see the the increased in the market. Let say they sell the FUD.

We have already taste the good about Crypto and we all want it to stay. I can't just imagine a world now without Crypto, how does that going to look like both Financially and economically.

* Crypto must stay*

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Thank you for your attention
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