Bitcoin and ether, the largest and most established cryptocurrencies, have plunged around 60 percent from their highs last November. Bitcoin now trades at around $29,000 and ether at $1,950. There is chaos and depression across the world of coins, tokens, and non-fungible tokens (NFTs)—so much that my college-age daughter called me last week to ask, “What’s up with the crypto crash? Is crypto over?”
Lots of crypto skeptics surely think and hope so. My own optimism for crypto, which has waxed and waned over the last decade, had more recently been rising. Market crashes induce fear and doubt but can also bring clarity. So my daughter’s question helped me organize and simplify my thoughts. Read more . . .