Bitcoin, the original cryptocurrency, remains a bellwether for the sector. It hit an all-time high of more than US$68,000 (£55,600) in November 2021, when the overall value of the cryptocurrency market was close to US$3 trillion. In the months since, however, most major cryptocurrencies have fallen by more 70% and bitcoin itself has dropped below US$18,000. Is this just another crash in the volatile cryptocurrency market, or is this the beginning of the end for this alternative asset class? When bitcoin was first introduced in early 2009, it was a new type of asset. While trading was thin initially, price…
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