>>8438465
>>8438519
8 HOURS AGO
Here’s a 24-hour price chart (in UK time), showing the spike, and then inevitable fall as it turned out, yet again, that bitcoin is in fact not an “uncorrelated safe haven” (screenshot from Coindesk):
Bitcoin has now crashed by more than 10 per cent in the last 24 hours, settling below $5,000 to trade at around $4,600 at pixel time while wider stock markets sell off. That takes its losses since mid-February to about 55 per cent. Ouch.
The one bit of green in that bloodbath is Tether, which, yet again, is proving to be a somewhat unstable “stablecoin”. A coin that is meant to be worth $1 is now changing hands at $1.02. Makes sense, though, in an environment where we’ve had a dollar shortage though, right? Yeah, some of its reserves might be in bitcoin, which is crashing spectacularly, but still it’s “fully backed” soooo... buy?
Sure. Everything’s fine.
Bitcoin has always seemed to me
to be a great way to launder ill gotten money
crash with corona is worth looking into who and why
https://ftalphaville.ft.com/2020/03/16/1584347654000/Bitcoin-s-big-moment-proves-shortlived-as-it-crashes--again/