What Skeptics Get Wrong About Crypto’s Volatility

Bitcoin’s value more than halved between April and June, from just over $45,000 to around $20,000. Critics have doubled down on their critiques of crypto as a Ponzi scheme. But the focus on price volatility isn’t as strong an argument as critics might think. Instead, it reveals a misunderstanding of what different crypto assets represent. Unlike traditional equity, crypto assets have liquidity and price discovery from the start. This means that crypto markets are more sensitive to signals and changes, writes Andrew Keen. Keen: Better infrastructure and a lack of gatekeepers in greater participation means more garbage, but the lack of curation means too much garbage, too, too. If the industry were to be to Wall Street, Source