Bitcoin a digital avocado

Tuesday 26 November 2019

It’s not a universal safe after all. If the price avocadoes crashes then so does you BTC, via FTAlphaville:

Bitcoin, that famous uncorrelated safe haven, seems to be crashing again.

Reasons given for the crash include “China euphoria” fading (Xi Jinping said something blockchainy in late October and apparently the jubilation that followed has now, suddenly, disappeared); “concerns about a crackdown”; “pressure from bears” and “traditional markets cooling”.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.