It's it's been a volatile session so far Today in this part of the World yeah we saw uh bitcoin rise above 31 000 in singapore then it was back Near the 30 000 mark fighting its way uh Higher but it is a rebound nonetheless Some relief to those who are concerned That cryptocurrencies really took a Beating in this recent sell-off let's Drop into the bloomberg and what you can See is that the volatility in the stock Market now exceeding that of what we're Seeing in crypto currencies so the chart Watchers say that augur is perhaps a Better recovery for The various cryptos and we're seeing a Bit of green on the screen uh as we Speak um The bitcoin trade are really uh Jaw-dropping for some Veteran bitcoin traders are used to big Swings but this was a major drop as Stocks fell uh and we saw bitcoin Briefly go before thirty thousand even Mike novogratz a sort of perma ball on Crypto said you can expect a lot of pain And difficulty going forward uh getting Back to those highs and we're down some 50 percent from those highs of almost 70 000 back in november uh will be a long Road indeed of course there was a big Issue with stable coin that got a lot of The market's attention here in the u.s And stable coin is a crypto that's tied
Dollar for dollar i i should say uh it's At parity with the dollar and it fell Below that and then way below that and So there were big questions about the Algorithmic uh methodology there and Even the fed raised some concerns that Perhaps this needs much more scrutiny And so there is a view that steps will Be taken to get stable coin on more Stable footing but again this is just Another question mark uh for the crypto Currencies whether they will be getting A lot more Regulatory Lockdown
