Some investors see bitcoin’s price plunge as an omen for global sharemarkets, but others are hopeful that this week’s Fed meeting can restore the market’s mojo.
A sharp divide has opened up among investors after global stockmarkets last week suffered their heaviest falls in more than a year.
One camp believes that cryptocurrencies are now acting as the canaries in the financial coal mine. And they warn that the vicious drop in the value of digital currencies, which has wiped out more than $US1 trillion ($1.4 trillion) from their aggregate market value, is a bleak warning for global sharemarkets.
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Jill Margo was a senior writer at The Australian Financial Review.
