Beginning of the end for crypto?

Author: Olly Jackson | Published: 26 Feb 2019

What a difference a year makes. One year ago, cryptocurrencies were confounding all expectations. The value of a single bitcoin reached $16,477 in January 2018, with little sign of falling. A year later and those caught up in the wave of hysteria will feel disappointed. The price of bitcoin has fallen to below $4,000, and its long-term future is very much in doubt. Many analysts believe even the $4,000 figure is too high.

The market has been dogged by allegations of market manipulation, with claims that the price of bitcoin had been artificially inflated with another cryptocurrency, Tether. The US...