Market views: Will cryptocurrencies ever go mainstream with asset owners?
The massive correction experienced by Bitcoin in recent weeks underlines the volatility of cryptocurrencies. Will they ever gain a place as a central investment asset for investors?
Ever-unpredictable, cryptocurrencies have had a particularly volatile period of late.
Bitcoin, the priciest and most well-known, saw its value collapse by 45% during the past few weeks, from highs of $63.237 on April 15 to to $34,618 on Friday (May 29). Similarly Ether, the main currency for the Ethereum blockchain network, saw its value drop over 40% in less than two hours at one point.
The collapses followed a raft of bad news, including Tesla billionaire founder Elon Musk a…
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