Extrapolating the crypto crash to equities

Letter # 91 | 20 June 2022

Over the past week, two important events transpired. One, the global cryptocurrency market cap fell below USD 1 trillion (USD 3 trillion at its peak in October 2021), and below levels observed in January 2018. As of this writing, cryptos have not only halved from pre-Covid highs, but are at a four-and-a-half-year low.

Bitcoin, widely believed to be the hedge against the incessant currency printing by the central banks, has collapsed by over 70 per cent in under six months.
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