Bitcoin has lost almost 20% in less than two weeks, proving that extreme volatility remains a hallmark of crypto investing.
“Bitcoin correction is not a big deal,” wrote Craig Erlam, senior market analyst at Oanda. While a break to $50,000 “would represent a large correction from the highs, it would still be relatively minor considering how far it’s come in recent months.” “During the 2016/17 bitcoin winter, the thing that really took the wind out of the sails of crypto was when interest rates rose and liquidity was draining from the system,” said Jamie Cox, a financial adviser and managing partner at Harris Financial Group.
Bitcoin has lost almost 20% in less than two weeks, proving that extreme volatility remains a hallmark of crypto investing.Aficionados of digital assets are used to big swings and often undaunted by pullbacks. They often view bitcoin as a modern day store of value and inflation hedge, though such arguments are controversial.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.