Cryptocurrencies Plummeted Amid Talk of Clampdowns—But We Don’t Really Know Why
Bitcoin and other competing digital currencies have been suffering downturns, though you shouldn’t believe anyone who tries to tell you exactly why this is happening.
The numbers: At the time of writing, Bitcoin’s price was down more than 20 percent in the past 24 hours, hovering around $9,500. (It hit a high of more than $19,000 in December.) In fact, nearly every cryptocurrency has lost significant value during this most recent of crashes.
Some speculation: South Korea is currently considering a ban on cryptocurrency trading, and China is also mulling a crackdown on Bitcoin mining. Both prospective moves are causing unease in digital-currency circles. There’s even talk of imposing international regulations on the market.
But: The truth is, it’s hard to say for certain why the crash came about beyond the fact that, well, more people are selling than buying.
Keep Reading
Most Popular
Large language models can do jaw-dropping things. But nobody knows exactly why.
And that's a problem. Figuring it out is one of the biggest scientific puzzles of our time and a crucial step towards controlling more powerful future models.
The problem with plug-in hybrids? Their drivers.
Plug-in hybrids are often sold as a transition to EVs, but new data from Europe shows we’re still underestimating the emissions they produce.
How scientists traced a mysterious covid case back to six toilets
When wastewater surveillance turns into a hunt for a single infected individual, the ethics get tricky.
Google DeepMind’s new generative model makes Super Mario–like games from scratch
Genie learns how to control games by watching hours and hours of video. It could help train next-gen robots too.
Stay connected
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.