Bitcoin Isn’t Looking Like Much of a Safe Haven Now
From bnnbloomberg.ca
Bitcoin is proving to be no haven asset amid the current global market meltdown. The largest digital currency continued to plummet in Asia Friday as a rout that began in earnest overnight in New York showed no signs of slowing down. Bitcoin dropped as much as 32% to $3,915, its weakest since March 2019, according to consolidated pricing compiled by Bloomberg. Its 50% drop over the past two days is among the biggest ever. The wider Bloomberg Galaxy Crypto Index tracking a basket of digital assets hit a historic low in data going back to August 2017, sliding 47% over the two session. Rival tokens including Ether, XRP, ...
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