Bitcoin’s status quo is making some long-time observers nervous

Crypto prices have plunged, with Bitcoin hovering around US$17,000 (RM74,273), down from near US$69,000 (RM301,461) just a little more than a year ago. — Reuters

Cryptocurrencies are maintaining the status quo in the wake of the most recent market downturn and that is being viewed by some long-time observers as an ominous sign.

Bitcoin’s dominance in the market, currently below 40%, hasn’t wavered much amid the turmoil surrounding the implosion of Sam Bankman-Fried’s FTX exchange. In past boom and bust cycles, that percentage of market share tended to increase as investors gravitated to the original virtual currency given its stature as being the "safest” in a crowd of volatile investments.