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Crypto was once touted as a ‘safe haven’ asset – why did it crash too this week? (theconversation.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 32 points 3 months ago (3 children)

Because the people who touted it as a safe haven were the same ones selling it

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[–] [email protected] 3 points 3 months ago* (last edited 3 months ago)

Some big institution bois took massive loans in yen and bought assets with it. Then annoying japan raised the rates! Panic sell to pay loans, because bosses told them so.

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