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2018-11-23 17:47:17
Weekly Cryptocurrency Market Wrap
16h - 22nd November

The dramatic sell down in cryptoassets over the past week is not the first, and certainly won’t be the last, market event of its kind. The sharp decline of the bitcoin price to a low in the region of $4000 saw it reach its lowest level in well over a year. It is important to note that these events have not occurred in isolation and are a result of a confluence of several factors, including broader global macroeconomic trends that have cascaded down to rattle investor risk appetite. Short term sell-offs can often be driven by irrational herd like behaviour. The last week’s events certainly indicate this, with no apparent change in underlying fundamentals.

There are numerous examples of this in recent history. The Nasdaq 100 Index delivered -41.9% in 2008 due to the global financial crisis, only to return +53.5% and +19.2% in 2009 and 2010 respectively. Indeed, cryptoassets have been through their own market gyrations. Early investors in bitcoin need only look at the twin crashes in the asset’s price in 2013 for evidence of how quickly sentiment can change. It is clear from these events that negative, as well as positive, extrapolation and sentiment are inherently temporal in nature. While we are cautious to make any predictions, these are great examples of how quickly markets can reverse losses, and gains for that matter. Given this, it is important to remember that investing is a long term pursuit in the face of short term noise.

Kyle Cox,
Senior Investment Analyst, Invictus Capital





Driver bloggen www.tillslut.se om investeringar, Bitcoin och blockchain

Finns på twitter: @tillslut
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2018-11-23 23:05:33
V 47 naturligtvis...




Driver bloggen www.tillslut.se om investeringar, Bitcoin och blockchain

Finns på twitter: @tillslut
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