Cryptos Are Crashing Again

It’s a bloodbath in cryptocurrency markets this morning…
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Having bounced overnight to over $10,600, Bitcoin prices are tumbling once again as we approach the US equity market open..
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While there is no immediate catalyst, CoinDesk notes that ECB Vice President Vitor Constancio – ever eager to talk citizens away from decentralized ‘anything’ – warned about the risks of investing in bitcoin at current valuations.
Speaking to CNBC, Vitor Constancio said developments in bitcoin’s price make it “a speculative asset by definition,” continuing: “Investors are taking that risk of buying at such high prices.”

This post was published at Zero Hedge on Nov 30, 2017.