How much will a Bitcoin crash cost?

Online publication Axios has come up with an estimate of $250 billion as the monetary impact of a bitcoin crash. But that estimate betrays an incorrect understanding of the utility and markets to cryptocurrencies. There is already substantial investment in blockchain, the technology underlying bitcoin.

What is the price of bitcoin?

The bitcoin price surged to around $23,000 per bitcoin, up from under $17,000 at the beginning of the year. Ethereum ETH -0.2% and other top ten cryptocurrencies have seen similar gains-though some smaller coins have soared even higher.

What happened to bitcoin?

Bitcoin has crashed. Again. The cryptocurrency is down more than 50 per cent from the all-time high it experienced just six months ago, with investors fearing that the collapse could be even more severe if a key resistance level is breached in the coming days.

What's behind the bitcoin price rally?

The bitcoin price rally over the last few months has been partly driven by the long-awaited emergence of institutional investors, with bitcoin traders upbeat this latest crash won't have diminished Wall Street interest in bitcoin.

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