3 ms·
"crash" not very accurate choice of words... exchange rate dip maybe better?
by patchtopic 5y ago
"crash" not very accurate choice of words... exchange rate dip maybe better?
- ninetenfour 5y ago"Crash" of an asset/currency is always against other assets/currency -- you need to define what its comparable otherwise you can not measure it. Was it a "crash" though in scope? Black Friday in 1987 was a 22% drop in the stock market. Yesterday was a 14% to 18% drop depending on how you calculate it. Close to what was considered a prototypical "crash": https://en.wikipedia.org/wiki/Black_Monday_(1987) https://en.wikipedia.org/wiki/Black_Monday_(1987) Basically BTC is highly volatile, thus it probably crashes all the time based on standard definitions.
- dtech 5y agoIf any fiat currency would go down 15% we'd call it a crash. USD/GBP fell 19% after the brexit-referendum, that was an abnormal noteworthy event with quite far-reaching consequences. For BTC it's a daily occurence...