, Columnist
The Crypto Crash Strengthens the Case for Crypto
The plunge shows that prices can fall sharply and suddenly without inducing a more general contagion.
There is a risk of fall.
Photographer: Andrey Rudakov/Bloomberg
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Crypto prices are tumbling. By one account, crypto assets have lost about $1.35 trillion globally since November, with some falling in price by 80% or more. Many investors feel a real pinch.
The good news is that the global economy, or for that matter American society, is not poorer. And thus there need not be much of an economic response to adjust to these new prices. (The flipside is that if crypto prices see another steep increase, there won’t be much cause to celebrate.)