INSUBCONTINENT EXCLUSIVE:
By Michael PattersonThe Great Crypto Crash of 2018 looks more and more like one for the record books.
As virtual currencies plumbed new
depths on Wednesday, the MVIS CryptoCompare Digital Assets 10 Index extended its collapse from a January high to 80 percent
their predecessors during the Internet-stock boom almost two decades ago, cryptocurrency investors who bet big on a seemingly revolutionary
London for Markets.com, a foreign-exchange trading platform
It fell 6 percent to $171.15 at 7:50 a.m
Bitcoin was little changed, while the MVIS CryptoCompare index fell 3.8 percent
The value of all virtual currencies tracked by CoinMarketCap.com sank to $187 billion, a 10-month low.
Digital GoldThe virtual-currency
finance to food -- has quickly given way to concerns about excessive hype, security flaws, market manipulation, tighter regulation and
slower-than-anticipated adoption by Wall Street.
Crypto bulls dismiss negative comparisons to the dot-com era by pointing to the Nasdaq
They also note that Bitcoin has rebounded from past crashes of similar magnitude.
But even if the optimists prove right and cryptocurrencies
slump is that ramifications for the global economy are likely to be minimal
