Bitcoin, the world’s most popular cryptocurrency, has shed about 56 per cent of its value since the start of the year. This week it was trading at about $20,200 — less than a third of its November 2021 peak of almost $69,000.
As inflation soars and governments across the world raise interest rates, bitcoin and other cryptocurrencies have not proved to be the safe-haven asset many hoped they would be. Instead, cryptocurrencies have fallen just like other assets that boomed over the past decade such as growth and tech stocks.
Does this point to the death of bitcoin, or is it just a blip?
Some financial analysts are sceptical that bitcoin will ever recover from its recent price spiral. Wild price swings have led to