Bitcoin’s plunge exposes idea of uncorrelated asset as ‘big lie’

Compared to 2018, there are more institutional investors with exposure to crypto and most see this as a buying opportunity, says Paul Veradittakit, partner at digital asset manager Pantera Capital.
The total market value of cryptocurrencies has dropped by about USD 326bn in the past seven days to roughly USD 1.33trn, according to data from CoinGecko. | Photo: Dado Ruvic/REUTERS / X02714
The total market value of cryptocurrencies has dropped by about USD 326bn in the past seven days to roughly USD 1.33trn, according to data from CoinGecko. | Photo: Dado Ruvic/REUTERS / X02714
By Vildana Hajric and Sidhartha Shukla, Bloomberg

A selloff in cryptocurrencies resumed Monday, with Bitcoin dropping back below USD 30,000 with global equity markets remaining under pressure.

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