Crypto has crashed – can it bounce back?

The cost of a single bitcoin has been dropping slowly since the end of March. But in early May, it dropped further than it had in the preceding month. The immediate cause was contagion from the catastrophic failure of another cryptocurrency project, called terra, which was once valued at more than $50bn and ended the week effectively worthless. As terra collapsed, so too did other cryptocurrencies, and even comparatively blue-chip tokens, including bitcoin itself, tumbled. But while the market has regained some stability, it shows no sign of returning to its highs of last month. We may be, in the words of one chief executive, heading into a “crypto winter” - the pessimists fear that this is the beginning of the end Source