Beginning of the end?

Author: | 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...