The bitcoin price may have tumbled 20 per cent in the past month, but seasoned crypto investors aren’t panicking just yet: the price is still more than double its level at the start of last year.

“Over the last 1½ years, the crypto sector has performed very well. So it’s not unexpected people are profit taking,” Richard Teng, the global boss of Binance – the world’s largest cryptocurrency exchange – says of the recent rout.

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