Title : Something Is Happening, But You Don't Know What It Is -- Bitcoin Is Crashing -- November 24, 2018
link : Something Is Happening, But You Don't Know What It Is -- Bitcoin Is Crashing -- November 24, 2018
Something Is Happening, But You Don't Know What It Is -- Bitcoin Is Crashing -- November 24, 2018
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The great cryptocurrency crash of 2018 had its worst week yet.
Bitcoin sank below $4,000 Saturday after it and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index's decline since Nov. 16 to 25 percent.
That's the worst weekly slump since crypto-mania peaked in early January.
After an epic rally last year that exceeded many of history's most notorious bubbles, cryptocurrencies have become mired in a nearly $700 billion rout that shows few signs of abating. Many of the concerns that sparked the 2018 retreat -- including increased regulatory scrutiny, community infighting and exchange snafus -- have only intensified this week.
Even after losses exceeding 70 percent for most virtual currencies, Oanda Corp.'s Stephen Innes has yet to see strong evidence of a capitulation that would signal a market bottom.
Hope springs eternal.
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