The Ukraine war has shown that cryptocurrencies are no hedge against equities
– The recent sell-off in the global stock markets has mirrorred a sell-off in cryptocurrency prices, indicating that digital coins may not be a particularly reliable asset during economic uncertainty.
– The instability of TerraUSD (UST) prices last week aggravated the recent sell-off.
– A strong correlation with equities suggests that investors are now treating cryptos as another speculative investment.
– The decline in cryptocurrencies is even more severe than the one in stock markets, with bitcoin prices falling by 26% in the past month.
– Some believe that the current dip presents a good buying opportunity for investors, while others think that crypto holders need to “HODL” for long to see the benefit.
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