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
https://blockonomi.com/bank-of-america-crypto-sell-off/

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