The largest cryptocurrency rose as much as 1.8% to $30 450 on Monday morning in Asia. That’s after it fell for seven straight weeks.
When people ask whether crypto will come back, the answer is yes, absolutely it will come back, but 98% of it won’t.
El Salvador’s big bet on bitcoin has soured in recent weeks as a cryptocurrency rout shaved over a third of the value of the government’s holdings.
The crypto market may well bounce back. But the message is clear: this stuff is not ready for prime time.
Last week’s undoing of the TerraUSD algorithmic stablecoin and its sister token Luna has ramifications for all of crypto.
Cryptocurrencies nursed large losses on Friday, with bitcoin set for a record losing streak as the collapse of TerraUSD rippled through markets.
A celebrated experiment that combined maths and software to get a digital currency to behave like a dollar is crashing in dramatic fashion.
Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering the implications of the tumult for the broader market.
Bitcoin has scant experience with rising interest rates, posing perils for investors looking to capitalise on its dramatic drop.
Bitcoin fell to its lowest level since January on Monday as slumping equity markets continued to hurt cryptocurrencies.