The price of bitcoin has undergone yet another wild gyration, rising from US$41,030 on September 29, 2021, to US$69,000 on November 10, 2021, before falling back to US$35,075 on January 23.

That is its second-largest decline in absolute value, though it has suffered larger declines in percentage terms, such as between December 15, 2017, and December 14, 2018, when it fell by 83.8 per cent.

More broadly, the cryptocurrency market – comprising some 12,278 coins – was estimated to be worth US$3.3 trillion on November 8, 2021, before plummeting to US$1.75 trillion as of January 30.

https://jamaica-gleaner.com/article/business/20220211/willem-buiter-outlaw-cryptocurrencies-now