The Financial Times:
Bitcoin was $4,600 at pixel, according to Coinbase, which is not the lowest price it sold for on Tuesday ($4,200), but is 8 per cent less than the original crypto-coin would have got you 24 hours ago. Just a 30 per cent drop in the last week. Litecoin, at $34.93, was off only 7 per cent in the last 24 hours, but has lost a third of its value in the last week. These are all bearer instruments, by the way, which means we may be at what technical analysis types call a “grappling at the watch strap” moment for the market.
This article from The Financial Times is pure rubbish.
The crypto market has lost a tremendous amount of value since the beginning of the year, but is it really necessary to rub salt into the wound? From what I can see online, it seems like a lot of people have lost 95% of their portfolio values. I just don’t see the point in “told ya so” articles like this one, especially during Thanksgiving weekend. I really hope people don’t take this bulls*** too seriously. If you’re feeling depressed, please try to stay away from charts and Crypto Twitter for a few weeks and spend some quality time with family and friends. I promise the market will still be around after the holidays.