A day after the key cryptocurrencies like Bitcoin and Ethereum saw a bloodbath, industry players on Thursday requested people not to lose hope and take a long-term view of their investments.
The price of bitcoin tumbled below $40,000 for the first time in months and other cryptocurrencies were also pressured on Wednesday, after the People’s Bank of China apparently warned against using digital coins as payment.
It was the second jolt to the fast-growing crypto market after Tesla last week applied brakes on Bitcoin as a payment mode to buy its electric vehicles, citing environmental harm.