"It's just early-year market blues," said David Mondrus, a long-time crypto enthusiast and chief executive of Trive, a blockchain-based research platform. Billionaire Mike Novogratz, who shelved his plans to open a $500 million cryptocurrency hedge fund and instead wants to build a crypto merchant bank, warned that Bitcoin would fall to as low as $8,000. "Investors are staying on the sidelines until there's some visibility, but nothing fundamental has changed. "Those highs helped increase the scrutiny regulators as the total market capitalization climbed to more than $800 billion at one point in January. "It's just early-year market blues," said David Mondrus, a long-time crypto enthusiast and chief executive of Trive, a blockchain-based research platform.

Source: Economic Times February 04, 2018 07:18 UTC