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.
Read the full article here : Extrapolating the crypto crash to equities
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