Business
“Crypto Winter” Is Here. Bitcoin Crash Signals Tough Times, Say Experts
For investors, there is nothing scarier than a bear market – unless you are involved in crypto, in which case winter is worse.
The creepy term refers to a sharp decline, followed by a drop in trading volume and months of market downturn — a phenomenon that happened in the cryptocurrency market in 2018 unforgettable. Bitcoin’s price ranged from late 2017 to December, a period marked by a boom and bust in initial coin offerings, and several major banks shelved plans to open cryptocurrency trading desks. Bitcoin will not reach new highs until December 2020, according to data compiled by Bloomberg.
Memories of 2018 have sparked fears that it is now repeating itself after the world’s largest cryptocurrency plunged 50% from its most recent high of nearly $69,000 in November. The cryptocurrency world has lost more than $1 trillion in market value amid growing belief that the Federal Reserve will begin to scale back the ultra-easy policy environment that fueled the boom in risk assets. The pullback has touched every corner of the crypto ecosystem, from bitcoin to memecoins and publicly listed crypto exchanges. UBS said that while the crash itself was disturbing enough, it raised bigger concerns that the pain could linger for months.
“The closest analogy to how we can describe this is probably 2018, which is the idea of a crypto winter,” UBS head of foreign exchange research James Malcolm said by phone. The period that will be extended, so the analogy of crypto winter is very good. Remember that the crypto winter of 2018 was not just the winter months in the northern hemisphere. It basically extended for a whole year – so it is a valid lasting one year cryptocurrency winter.”
Complete News Source : NDTV
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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