>>519603054
the market capitalization of CS2 skins nosedived by $1.784 billion, falling from nearly $6 billion to $4.27 billion, a drop of over 28%. The cause? An unexpected update from Valve, the developer of Steam, CS2 and Dota 2, that completely reshaped the in-game economy overnight.Pricempire">

The patch is now allowing players to exchange five Covert (red-tier) items for a knife or gloves from the same collection. In essence, Valve just enabled players to turn $100 skins into potential $100,000 knives, triggering an immediate flood of new high-tier items. According to CS Float, there are around 20 million Covert skins in existence, and if all were used in crafting, the number of knives and gloves could jump from 5.5 million to over 11 million, effectively doubling supply and gutting prices.

This means that at the very worst case scenario skins will only reduce by 50% of their value. But all skins that are in collections that have not been rereleased will not be able to be crafted with.

What this means is a huge amount of covert tier red skins will be taken out or circulation, effectively boosting the value of skins in the long run.
For NOW they will crash but in the long run they will all go up because of this.
A fade glock or a gem knife is still going to be impossible to get. This changes very very little.