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Investors who jumped aboard the latest Bitcoin price rally have learned the hard way just how brutal investing in cryptocurrencies can be.
Bitcoin flew to an all-time high of almost $65,000 in April, but crashed below $32,000 on May 23, losing more than half its value from the peak.
So far, so Bitcoin. The cryptocurrency has been incredibly volatile for a decade, with quick-fire gains and losses all part of the fun.
Yet all this will come as a shock for more recent investors, who have not seen a crash in the past 12 months.
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Stephane Ouellette, chief executive and co-founder of FRNT Financial, called it the first “welcome to crypto day” and said newbies had better get used to it. “The history of these assets has been littered with aggressive rallies and sickening sell-offs.”
The mother of all bubbles: How lack of value, risk and growth alignment created the biggest risk yet
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Inconsistent measures have caused more trouble
Ernst Knacke of Shard Capital Partners
Ernst Knack
We are all very much aware of the significant growth behind passive and ETF investing. Unjustifiably high fees and ease of access has driven trillions into passive index tracking funds over the last decade – perhaps justifiably so.