Keeping the Crash in Context

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It’s extraordinary to me that Bitcoin futures launched Sunday at about $20,600 and as of this moment have broken into the $12,000’s. A drop of 40% in the span of a few days after launch is, umm, pretty impressive. And I’ve said repeatedly, I don’t have a dog in this fight (although, given my warped nature, I’d find it funnier for the entire crypto space to implode), but I will point out that this crash, in the big picture, isn’t much different than any of the others. The uptrend is still intact.