In reaction to the U.S.-China trade tensions last week, the tulip—eh-hmm—crypto market has suffered the biggest crash in its history. It is estimated that the global crypto market has lost over $150 billion. Bitcoin fell 14% over Oct. 10-11. Ether at one point was falling 12%. Minor tokens fell even more.
Is this the end of the crypto bubble? Robert Reich raised the question, and answered: “When will the crypto bubble burst? Maybe it’s already started.” He also hinted at the “huge amount of borrowing” behind the nine-month-long crypto rally.
According to Derive, investors have massively bought options on Bitcoin and Ether. In other words, a mass bet on the collapse of crypto has started.
