|More from: | HackerNoon |||
Yesterday the cryptocurrency market began to stabilize after pulling back sharply on October 10. The sharp correction appears connected to a surprise downturn in the Dow, S&P 500 and Nasdaq. As global markets recover from yesterday’s beating, analysts are beginning to question if Bitcoin is inversely correlated to traditional markets as the common assumption suggested that Bitcoin would rally if global markets corrected.
In other news, U.S. Senators on the Committee on Banking, Housing and Urban Affairs had the privilege of hearing testimony from New York University economist Nouriel Roubini, who is also known as “Dr. Doom”. Roubini is reported to have referred to altcoins as “sh*tcoins” when describing how a “70% capital loss was a “good” deal compared
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