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Bitcoin just lost more than stocks did in the 1929 market crash. It won't be the last time
No investment is immune to sharp, painful downturns October has lived up to its reputation as the month when crashes occur. Except the crash this time was in bitcoin (BTCUSD) rather than the stock market. At one point this past Sunday, bitcoin was 15.4% below its all-time high set just a couple of days earlier. That certainly qualifies as a crash; it's larger than the 1929 crash, when the Dow Jones Industrials Average DJIA fell 12.8%. Many crypto enthusiasts are shocked by this drop, going to great lengths to dismiss it as a one-time event caused by idiosyncratic factors. But they are on a fool's errand: Crashes are ... (full story)
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