Is the carnage in cryptocurrency over or is it just a start?
Cryptocurrencies in their current form cannot be considered as a store of wealth. The current price behaviour also negates the argument of their being a hedge against the market.
May 21, 2021 / 11:38 AM IST
One cryptocurrency executive told the paper that Paytm Payment Bank’s support will conclude by “end-of-day” on May 21, [Illustration by Suneesh K | Moneycontrol]
Cryptocurrency investors are going through some anxious moments with multiple factors hitting them at the same time leading to a sharp decline in the value of these digital assets.
Bitcoin, the flag bearer of cryptocurrencies, is trading at $39,000 down from its high of $65,999.99 it touched on April 15th, 2021. Other cryptos have also met with a similar fate.
The highest point reached by cryptos coincided with the day Coinbase, the exchange on which the currencies are traded, was...