Crypto crash: Why has cryptocurrency dropped?

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Like many other markets around the world, the crypto market is going through a particularly brutal time right now. 

On the business side, the world’s largest cryptocurrency exchange, Coinbase, has sacked 18 per cent of its staff. At the time, the co-founder quoted the current “crypto winter” as signalling an extended period of revenue loss for the company. 

But is this a case of party over for crypto asset classes? Or is it just a slight blip on the bear market? Associate Professor Elvira Sojli and Dr Eric Lim of UNSW Business School explain what’s happening in the cryptocurrency market right now – and what the future might hold for crypto. 

See also: Can cryptos like Bitcoin ever be sustainable?

What is currently happening with cryptocurrency markets? 

Elvira Sojli: The cryptocurrency markets have seen one of the worst months and years to date. Their value has tumbled, and most of the decrease has occurred over the last two…

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