Crypto crash erases more than $1 trn in market value

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 90%

ประเทศไทย ข่าว ข่าว

ประเทศไทย ข่าวล่าสุด,ประเทศไทย หัวข้อข่าว

Since its peak in November, bitcoin has lost over 40 per cent of its value. Other digital currencies have suffered just as much, if not more.

For Bitcoin, there’s only been one constant recently: decline after decline after decline. And the superlatives have piled up really quickly.

Bitcoin’s decline since that November high has wiped out more than $US570 billion in market value, and roughly $US1.17 trillion has been lost from the aggregate crypto market. “Crypto is reacting to the same kind of dynamics that are weighing on risk-assets globally,” said Stephane Ouellette, chief executive and co-founder of institutional crypto-platform FRNT Financial. “Unfortunately for some of the mature projects like BTC, there is so much cross-correlation within the crypto asset class it’s almost a certainty that it falls, at least temporarily in a broader alt-coin valuation contraction.

Take also the correlation between bitcoin and Cathie Wood’s ARK Innovation ETF, a pandemic poster-child of speculative risk-taking. That correlation stands at around 60 per cent year-to-date, versus about 14 per cent for the price of gold, according to Katie Stockton, founder and managing partner of Fairlead Strategies, a research firm focused on technical analysis. It’s “reminding us to categorise bitcoin and altcoins as risk assets rather than safe havens,” she said.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว

Without a systemic shock, that's the key

“Buy the dip”! 🤪

That’s crypto. Not even shook 😄

เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

 /  🏆 2. in TH

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว