Breakingviews – Bitcoin’s slide blows digital stardust to winds
November 20, 2018 – Reuters
That now all seems woefully premature, if not misguided. The initial coin-offering boom turned bust this year as regulators like the U.S. Securities and Exchange Commission cracked down on them, and the EOS network got embroiled in a governance dispute immediately after raising a record $4.2 billion.
Meanwhile, the luring of conventional investors appears to have backfired. As many as 150 hedge funds dedicated to cryptocurrencies will be launched this year, publication Crypto Fund Research predicts. Most of them, though, will already be nursing big losses, having bought closer to the peak. The recent selling – bitcoin has plummeted by a third in a month and is 75 percent off its peak last December – has the air of investor capitulation…