From 4 p.m. on Sunday to Tuesday afternoon, the price of a bitcoin dropped 8% to $84,000 and then rebounded fully by Wednesday, without any explanation other than the media saying it was not surprising because cryptocurrencies were very chaotic. What we know is that cryptocurrencies trade 24 hours a day, worldwide, making them more tradable than other assets, but also somewhat crashproof, because when they dive, the likelihood buyers somewhere around the world will dip in is high, seeing the drop as a buying opportunity. We witnessed this speculative activity this week.
A Macro Market View by Hubert Marleau
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