India, Feb. 23 -- On Monday, February 22, the price of 1 Bitcoin at $57,000, had exceeded the price of 1 Kg gold bar at $56,500, solidifying the claims of crypto stakeholders that the crypto is the new age investment asset class. What followed though is something crypto evangelists would want to unsee. The price of the world's leading cryptocurrency corrected and has fallen 9.45% in the last 24 hours, currently trading at over $48K. This has sent some novice investors into a panic, and other currencies also dropped in value sharply.

Sumit Gupta, CEO and cofounder of CoinDCX, offered some perspective about the Bitcoin price correction. "After reaching an all-time high of $58,000, Bitcoin saw a price correction today. This was expected as ...