Bank of America Sees Crypto Sell-Off as Warning for Broader Markets-7.78

Analysts at Bank of America think current downdraft in cryptocurrency prices could be a harbinger of more pain ahead. They don’t think the sell-off will be limited to the crypto markets, and see the selling pressure in the oil space as part-and-parcel of a much wider movement out of risky assets.

According to a report that Reuters reproduced, Bank of America thinks that the action in crypto markets suggests that another “flash crash” could be near. Modern markets are more-or-less directed by trading algorithms, which opens up the door to sudden movements that may make little sense to the humans that can’t react in microseconds.

Original source

Add comment

Please Sign in to be able to leave comments.