Market Sentiment ..Cash is King.... All these crypto Investors finally got a wakeup call.. Funny how there was such a big push by institutions and the likes of guys like O'Leary pitching this stuff when truth be told they were already likely into it and capitalizing on the publicity to cash in.... This downturn in Cryptos will be a wakeup call to this being no more than a bubble. Likely many of these folk will consider moving into more safe haven investments like Gold over Crypto... Wait until Goverments put the final spike in this stuff.. That still hasn't happened but is bound to in tme.. Bitcoin is continuing a downward spiral that has marked much of 2022 for the popular cryptocurrency.
The digital currency continued to sink Tuesday following a 16-per cent drop on Monday that sent its value as low as US$22,400. Bitcoin has lost more than two-thirds of its value compared to all-time highs in November of last year.
“Investors are looking to de-risk all over the board and Bitcoin and crypto assets are getting washed up along with it,” he says.
This could be a period when so-called alt-coins that popped up during the crypto mania of the past few years could plummet and lose all value, she says, similar to the dot-com bubble of the late 1990s.
Long on Gold.....