What is going on with crypto

According to CNBC, Bitcoin plunged below $33,000 on Monday, the lowest it's been since July, and the entire crypto market lost more than $1 trillion in value. Why is bitcoin going down right now Then there’s Ashish Singhal, Co-founder and CEO of Bengaluru-based CoinSwitch. The company, which boasts of a user base of 18 million, plans to launch another vertical where it can cash in on its crypto base to sell mutual funds and fixed deposits. “A lot of Indians started their investing journey with crypto. We want to grow with them, provide them with the right assortment of asset classes—simplified and tailored for their needs. This includes products like fixed deposits, mutual funds and more. We are aiming to announce these products by the end of this financial year,” says Singhal.

Grayscale Bitcoin Trust, like the underlying Bitcoin, is prone to wild swings. Ultimately, it's a bet on Bitcoin, which is a speculative asset more than a real currency. Knowledge is power Bitcoin isn’t the only cryptocurrency to be experiencing a tumultuous period. Generally, bitcoin’s price action reflects wider market trends, with alternative cryptocurrencies known as ‘altcoins’ having a tendency to rise and fall in similar waves.

I think it's inevitable. You know, if you think about what regulation is regulation comes went to protect consumers. And when you have situations like you've had in the past couple of months, where companies have taken on too much risk or haven't been playing by the rules, that's when regulators come in to try to help establish rules. Is Bitcoin Here to Stay or Just a Fad? © 2023 Cable News Network. A Warner Bros. Discovery Company. All Rights Reserved. CNN Sans ™ & © 2016 Cable News Network.

Bitcoin’s price is probably the most commonly searched aspect of the digital currency. This post explains how the price is determined and what makes it go up or down. Crypto exchange concerns — and shifts to crypto wallets Even the biggest crypto boosters will tell you that success in the crypto world is far from guaranteed. Its volatility is part of its very appeal to many speculators: that they could make money at rates far faster than that of normal stock brokers.