What happened to Bitcoin as the ‘future of currency’?
When the year started, bitcoin was trading above $47,300. In past seven days alone, bitcoin has lost 11.7 percent to trade at $29,500, ethereum lost 18 percent to trade around $2,000 and BNB lost 14 percent, ripple lost 23.6 percent, cardano lost 18 percent and solana lost 28 percent, according to CoinMarketCap data. Bitcoin lost 34 percent from $47,345 on January 2 to $31,300 on May 15, as per CoinMarketCap data. Photo: Blooomberg If we talk about past five-and-a-half months since the start of the year, bitcoin lost 34 percent from $47,345 on January 2 to $31,300 on May 15, as per CoinMarketCap data. Also, the global crypto market has responded to higher yields on US Treasury securities and the prospect of aggressive policy tightening to address inflation," says Vikas Ahuja, CEO of Cross Tower India.
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The crypto industry is advancing. (Just don’t ask it where it’s going.)