Submission + - Cryptocurrencies Tumble as Global Investors Reduce Risk (coindesk.com)
NoMoreDupes writes: Bitcoin and other cryptocurrencies are down over 10% or more today. According to CoinDesk:
The crypto market was in a sea of red on Friday as bitcoin, the world's largest cryptocurrency by market capitalization, tumbled more than 10% over the past 24 hours.
It appears that global investors have entered the year with a reduced appetite for risk, and so the correlations between speculative assets such as cryptocurrencies and equities have increased, which results in widespread losses. Bitcoin is down roughly 40% from its all-time high of almost $69,000, while the S&P 500 is down about 7% from its peak, compared with a 10% drawdown in the Nasdaq 100 Index.
