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| December 13, 2018

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CNN

How Bob Marley’s daughter helped Jamaica reach the Women’s World Cup

December 9, 2018 |

The draw for the eighth edition of the Women’s World Cup takes place Saturday at La Seine Musicale in Paris.
CNN.com – RSS Channel – World

World Leaders Agree on Trade, Not Climate

December 1, 2018 |

Leaders of the Group of 20 have agreed to fix the world trading system—but only 19 of them agreed to support the Paris accord on fighting climate change, the AP reports. Applause rose up in the hall Saturday as the leaders, including President Trump, signed off on a final…
Newser

He Served Just One Term, but the World Changed

December 1, 2018 |

With George HW Bush dead at 94 , coverage of the life of the 41st president is plentiful. Here are some early highlights: The broad strokes: For a thorough obituary and assessment, start with the Washington Post . Its story notes that while Bush served just one term as president, it was…
Newser

World waits to see if Trump-Xi dinner brings trade peace

December 1, 2018 |

When President Donald Trump sits down for dinner Saturday with Chinese leader Xi Jinping, their table talk will undoubtedly have a global impact.
FOX News

Infant Twins Lula and Nana May Be a World First

November 26, 2018 |

The twin girls are known as Lulu and Nana, and if a Chinese scientist is correct, they are the world’s first babies born with edited genes. Researcher He Jiankui says he tweaked embryos with CRISPR technology in the hope of making the resulting infants naturally resistant to HIV, reports the…
Newser

Trump on Khashoggi’s Death: Maybe Blame the World

November 23, 2018 |

In a session with reporters at his Mar-a-Lago resort on Thanksgiving, President Trump was pressed about Jamal Khashoggi’s death and Saudi Crown Prince Mohammed bin Salman’s role in it, and the president didn’t budge. The Washington Post reports he held his position of refusing to blame MBS. “He denies it…
Newser

Bitcoin Isn’t Volatile – the World Is

November 21, 2018 |

Bitcoin Isn’t Volatile – the World Is

It’s been a horrible year for cryptocurrency. Assets down an average of 90 percent, constant despair and each new day bringing fresh horror. Who’d want to be a bitcoin trader? But when you zoom out beyond the cryptosphere to gain some perspective, it turns out that crypto’s not doing so badly after all. With trillions of dollars wiped off major tech stocks, 2018 has been unkind to investors across all asset classes.

Also read: Fear, Loathing and Opportunity: How Crypto Traders Are Handling the Drop

Bear Market Takes a Bite out of FAANGs

“I’m sorry,” repeated the apology for the umpteenth time. “I’m sorry that this rogue wave capsized our boat.” The wave in question was a spike in the price of natural gas that ruined options seller James Cordier and his 290 clients to the tune of millions of dollars. The rambling 10-minute apology video, which instantly went viral, demonstrates the dangers of selling naked call options — essentially bets on securities you didn’t own. When natural gas spiked by 20 percent in a matter of hours, the author of “The Complete Guide to Option Selling” was, to use crypto parlance, rekt. “Putting it simply — he had to buy very high and sell really low,” explained Palisade Research.

Bitcoin Isn't Volatile – the World Is
Not cryptocurrency: This is natural gas

While the case of Cordier is extreme, it demonstrates that sudden swings and crushing losses are not the preserve of the crypto space. In the past two months, the so-called FAANGs — Facebook, Apple, Amazon, Netflix and Google — have seen more than $ 1 trillion wiped from their valuations, while the Nasdaq is down 15 percent from its Aug. 30 peak. Oil prices have also slumped, down more than $ 20 per barrel from their October high. On Nov. 20, all 11 sectors of the S&P 500 index recorded a deficit, including energy and technology, which lost 3.5 percent and 2.4 percent, respectively. Facebook is down 39 percent from its all-time high, Amazon is down 25 percent, Apple and Google are down 20 percent, and Netflix 36 percent.

Volatility Is All Part of the Circle of Life

When viewed in a broader context, cryptocurrency volatility inhabits a broader boom and bust cycle that has defined markets ever since the dawn of civilization. From 18th-century Isaac Newton FOMOing back into the tulip bubble and getting rekt to 1930s Wall Street traders losing their shirts, epic losses are all part of the human struggle. Acknowledging this may not directly benefit bitcoin traders in the here and now, but it does help to contextualize their losses.

“Thank you so much for the barbecue sauce,” trembled Cordier in a barely audible voice as he expressed gratitude to his many clients over the years. “I will enjoy it … To Larry and Rex, looks like I owe you a Cuban sandwich.” The bizarre nature of the fund manager’s parting video likely contributed to its virality. For crypto investors, it provided some relief from their own financial worries, and highlighted that catastrophic losses are not unique to their sector. Volatility isn’t a bitcoin thing — it’s a global thing.

Do you think market volatility is inevitable? Let us know in the comments section below.


Images courtesy of Shutterstock and Nasdaq.com


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The post Bitcoin Isn’t Volatile – the World Is appeared first on Bitcoin News.

Bitcoin News

2 Dead After World War II Plane Crashes Into Parking Lot

November 18, 2018 |

A privately-owned vintage World War II Mustang fighter airplane that had participated in a flyover for a museum event crashed into the parking lot of a Texas apartment complex Saturday, killing the pilot and a passenger, authorities said. Texas Department of Public Safety Sgt. Orlando Moreno confirmed the two people…
Newser