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Crypto Collapse Tests Faithful’s Infinite Supply of Optimism

  • Market could see some capitulation before long: Miller Tabak
  • Proponents say liquidations often serve to cut out the froth
Bloomberg business news
WATCH: The rollercoaster ride for crypto currencies continues. Su Keenan reports.Source: Bloomberg

With the blink of an eye, more than a trillion dollars in crypto-market value has evaporated.

The jarring downturn that’s been a hallmark of digital assets in recent weeks continued to play out this week and into Saturday, with Bitcoin at one point losing more than 15% during that stretch. The coin, which is the largest digital token, has dropped more than 50% from a recent peak, and many other cryptocurrencies have lost just as much, if not more.