Price swings in cryptocurrencies could slow down its adoption

Soaring high: The price of a bitcoin surpassed US$50,000 for the first time on Tuesday. — Reuters

CRYPTOCURRENCIES are back in vogue largely after Tesla invested US$1.5bil in Bitcoin. Since late 2020, cryptocurrencies dominated by bitcoin, have been on a wild ride.

The price of a bitcoin surpassed US$50,000 for the first time on Tuesday, and surged higher on Thursday to US$52,000. This was compared to its price of around US$10,000 a year ago and around US$400 five years ago.