"Crashed" may be overplaying it just a little. Do you remember 1987? Now that was a crash. In fact crashes really don't happen anymore due to the market circuit breakers which didn't exist in the pre-electronic trading world when the last true crash happened. Those were horrible days.
But there is joy to be had in some stocks today. What is bad news for some companies and sectors inevitably is good news for others. New records highs today for some stocks that benefit from higher interest rates for example. Now that the US election is over policy makers are being a little more candid about their true interest rate projections and the scale of the inflation problem. There is much pain ahead for both borrowers and consumers and for some reason the pros found this info to be a revelation yesterday from the Fed thus the reaction. Surely most of us have looked at the previous projections and commentary in disbelief for some time.
None of this impacts BIT. Its a lottery ticket and a bet on a deal being done. Price will continue to drift around but little to do with overall markets and more to do with time and weary investors.
BIT Price at posting:
1.7¢ Sentiment: None Disclosure: Held
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