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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
Is the carnage in cryptocurrency over or is it just a start?

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. (image)   The highest point reached by cryptos coincided with the day Coinbase, the exchange on which the currencies are traded, was...

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