Boom and bust: Lessons from wild rides in crypto markets ...Qatar

Bitcoin, for sure, is no stranger to the speculative frenzy gripping the cryptocurrency markets. The digital token reached a record of almost $42,000 on January 8. It closed 2020 on a whopping 200% tear over three months. But that move paled next to the returns notched by the WSB (WallStreetBets) Reddit crowd, where day traders targeted heavily shorted stocks and used options to spark gains that top 900% in some cases. Having surged 305% in 2020 – only after losing almost three-quarters of its value in 2018 – the famously volatile cryptocurrency fizzled in early January. With a perceived market cap of around $575bn, it fell as much as 17% in the biggest drop since March 2020. Another cry

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Last updated : 03 February 2021 clock 01:31 AM

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