Cryptos Are Crashing

Cryptocurrencies are getting clubbed this afternoon as it appears The Economist 'curse' has worked once again. This was posted late last night:

And that pretty much top-ticked crypto (in the short-term, at least). Bitcoin (BITCOMP) has plunged over $6000.

Source: Bloomberg

Bitcoin is trading notably rich compared to its Stock-to-Flow 'fair value.'

Source

And Ethereum (ETH-X) is down almost $200.

Source: Bloomberg

Will we see the dip-buyers step back in again?

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Bill Johnson 1 week ago Member's comment

Relative volatility says they aren't crashing. This is normal behavior.