Payset prespective
June 21, 2022

Stocks and Crypto Have Entered a Bear Market: What You Should Know

Stocks and cryptocurrencies have undergone massive devaluations. Investors and businesses now face a bear market—but it may not last.

The stock and cryptocurrency markets saw a significant decline in the third week of June, as massive sell-offs produced conditions known as a bear market.

Markets Saw Losses Upward of 4%

On Monday, June 13, the Nasdaq Composite fell by 4.7% to $10,809—the lowest value that it has seen since September 2020. The S&P 500, meanwhile, fell by 3.9% on Monday to $3,749, a level roughly 20% below its January highs.

Those losses can be attributed to various effects. One factor that caused investors to sell off their assets was anticipation of a Federal Reserve meeting that on Wednesday raised interest rates by 0.75 percentage points.

Investors may have been concerned about other global events as well. Commodity prices have been driven higher by the Russian-Ukraine war. China’s worsening economy might be another factor that has led to the latest bear market.

The cryptocurrency market also saw massive losses on Monday, as Bitcoin fell by 17% that day to $23,000. Bitcoin’s primary competitor, Ethereum, fell in value to $1,200.

The crypto market has likely been affected by a liquidity crisis concerning the blockchain project Celsius. The project has apparently lost an unspecified amount of funds and is now pausing most of its services due to “extreme market conditions”—a decision that sent panic across the crypto market.

What Does the Bear Market Mean for You?

The bear market will likely have some effect on businesses, as some will struggle to stay afloat in uncertain conditions. 

There are several ways to survive a bear market. The consultancy company Forestlyn suggests that customer validation should be a priority and that companies should rely on bootstrapped capital for funding. It also says that smaller companies may have an advantage over larger companies if they can adjust to market changes more quickly.

However, there may be little reason for concern in the long run, as markets usually recover from adverse conditions.

February and March 2020, which marked the beginning of the COVID-19 pandemic, also produced conditions that were considered a bear market. The market nevertheless recovered most of its losses within just six months.

If this year’s bear market plays out similarly, businesses may find themselves back on solid ground once again in the near future.

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Frequently asked questions

What is a multi-currency account/virtual IBAN?

A Payset multi-currency account allows you to receive money in 34 different currencies and send money in up to 38 currencies, all within the same account.

You can deposit and withdraw funds, convert currencies at competitive exchange rates, and hold your chosen currencies to capitalize on market movements.

A Payset multi-currency account allows startups and business owners to receive payments from clients virtually anywhere in the world and pay suppliers, staff, and contractors quickly and affordably in their chosen currency.

  • Funds can be deposited and withdrawn from the account for a small fee.
  • Account holders can send and receive money with other Payset users for free.
  • Depending on your region, you can use various payment networks from your Payset account, including SWIFT, SEPA, ACH, Fedwire, Faster Payments, BACS, and CHAPS. 
  • Once you register an account, you will be provided with a Virtual IBAN (International Bank Account Number), which makes all of these transfers easy.
  • We provide you with local payments and collections. For example, transactions in USD, EUR, CAD, and GBP are processed through the local payment networks, which is far cheaper and takes minutes as opposed to days

Are there limits on the amount of money I can send and receive?

No, there are no transaction limits on Payset multi-currency accounts.

However, higher-volume transactions may require additional anti-fraud verification. If you plan to make a large transaction, contact us in advance to avoid verification delays.

How is Payset regulated?

Payset is regulated as an authorized Electronic Money Institution by the UK Financial Conduct Authority. Our activities are also regulated by the Payment Services Regulation 2017 and the Electronic Money Regulation 2011 (SI 2011/99).

How do I send money from my account?

Once you have opened your verified IBAN account and added money to a balance, transferring funds is simple.

Simply log in into your account and add a beneficiary, then simply “make a transfer” in your preferred currency to that beneficiary.

Information contained in this publication is provided for general education and information purposes only and should not be construed as legal, tax, investment or other professional advice or recommendation, or an offer of, or solicitation for, any transactions or any other actions (or refraining therefrom); This material has been prepared without taking into account any particular recipient’s financial objectives or situation. We make no warranty, guarantee or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose; Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation or advice to take or refraining from any action; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Pay Set Limited, or vice versa; Market information is made available to you only as a service, and we do not endorse or approve it; Any reference to past performance, predicted returns, or likelihood performance scenarios may not reflect actual future performance and certainly do not guarantee future outcomes.

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