The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick back upwards. In South Africa, and on the continent, there have been several recent crypto developments, suggesting the market here is beginning to tingle with life.
Luno, the crypto-exchange backed by Naspers, did not see the bear market of 2018 as the disaster that many others did. It opened an operation in Zambia in April 2019 and plans to open offices in about 10 SADC and East African countries by the end of the year.
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