Blitzbear? Flurry bear? Bumblebear?
Bitcoin has experienced its third bear market since August 2017
Hong Kong — Bitcoin has yet to redefine the global payments system. But it could raise questions about how to define a bear market. Stock strategists — and financial journalists — typically use a 20% tumble from a high as the trigger for calling a bear market. Bitcoin at one point on Wednesday met that description, according to Bloomberg’s composite price. The low for the day was 20% below the record, set way back ... on Monday. It marks the first time for bitcoin to slide into bear-market territory since ... last month. There have now been three bear-market dips for bitcoin just since August. By contrast, the S&P 500 index of stocks last saw a bear market in 2009. When Wells Fargo, the American bank with a market capitalisation roughly the size of bitcoin, last saw a bear market for its shares the drop took more than a year to materialise — from July 2015 to October 2016. The latest bitcoin slide comes amid a whirlwind of news in crypto-land, including a rising profile for rival bi...
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