By Brandon Truitt

BOSTON (CBS) — The world of cryptocurrency can be as confusing as it risky for those who are unfamiliar with it.

At its peak, crypto has amounted a valuation of more than $2.2 trillion dollars globally. But it has lost $800 billion of that in just the past month, sending investors scrambling.

“People are getting a big wakeup call about risk and their retirements plans,” said Larry Glazer, managing partner at Mayflower Advisors in Boston. “We are getting a real test of how crypto currencies will perform in an evolving world, and unfortunately, the test is unnerving for most people.”

Glazer said the crypto market is plummeting due to reaction from global inflation, something creators said the digital currency would be immune to.

“The technology has evolved really quickly. It has evolved faster than the regulation and that is part of the challenge,” Glazer said.

According to the PEW Research Center, nearly 16% of adults in the US have invested in, traded, or used cryptocurrency.

Although it might seem far-fetched to some, crypto is making its way into the mainstream.

Just this month, Boston-based Fidelity announced it would start allowing people to invest in crypto through their 401k.

And students at Bentley University in Waltham, can now pay tuition using crypto.

“We’re proud to embrace this technology that our students are learning about, which will soon transform the global business landscape they’re about to enter,” Bentley University President E. LaBrent Chrite said.

Glazer says crypto is one of the highest-risk places to invest money. He is encouraging people who are considering buying in to research before they do.

Brandon Truitt