The Future of Cryptocurrency: Turbulent Times Ahead
The cryptocurrency market is facing a major slump, with leading digital currency Bitcoin losing almost half its value since its peak in October 2025, despite significant support from key figures. Meanwhile, predictions suggest that instant payment system Pix could dominate half of e-commerce transactions by 2028, signaling a shift in the digital payment landscape.
The Fall of Bitcoin
According to crypto asset data tracker CoinGecko, Bitcoin's value slumped to almost US$60,000, less than half its historic high of US$124,000 in October 2025. This drastic drop has wiped out all gains since Donald Trump's election win in 2024, when he signaled his intention to support crypto. Despite this high-profile backing, the hype over crypto appears to be waning, as the price of Bitcoin continues to tumble, even dropping below the critical US$70,000 level.
Le Monde reports that the Secretary of the Treasury has ruled out support for the crypto market, further fuelling fears of a new 'crypto winter'. Al Jazeera English refers to this as a 'crypto apocalypse', highlighting the possible implications for the future of digital currency.
Crime and Cryptocurrency
In recent news, criminals are increasingly turning to cryptocurrencies for ransoms, as illustrated by the ongoing Nancy Guthrie case, where her alleged captors are reportedly seeking a $6 million Bitcoin ransom. Ari Redbord, global head of policy at TRM Labs, explains that criminals increasingly request cryptocurrency in ransom and extortion cases because it is fast, global and does not rely on traditional banking rails that can delay or block payments.
Newly released documents also reveal convicted sex offender Jeffrey Epstein's early backing of Bitcoin and Coinbase, opening up further discussions on the links between cryptocurrency and illegal activities.
The Rise of Pix
While cryptocurrencies face turbulence, Pix, an instant payment system, is predicted to account for half of e-commerce transactions by 2028, according to a study by payment fintech Ebanx. This shift could represent a significant evolution in the future of digital payments, challenging the dominance of cryptocurrencies like Bitcoin.
Conclusion
The future of cryptocurrency remains uncertain, with fluctuating values and increasing associations with criminal activity. Meanwhile, other digital payment systems like Pix continue to rise in popularity. As the digital currency landscape continues to evolve, it remains to be seen whether cryptocurrencies can recover from the current slump and regain their once dominant position.