What’s Going On With Bitcoin ETFs?

What goes up, must come down; the laws of physics work that way in markets as well.

After an explosive run that sent bitcoin prices up 14-fold in 2017, the digital currency is coming down nearly as fast in 2018. Bitcoin recently hit a low of $3,500, down a whopping 82% from its all-time high of more than $19,500 last year.

Large price swings are nothing new for the notoriously volatile cryptocurrency, but the latest drawdown is among the biggest in bitcoin’s decade-long existence. It’s on par, for example, with the 2014 bust, which sent prices down 86%, from $1,137 to $160.

The current decline is even approaching the 2011 plunge—regarded as the largest ever—when prices dropped 93%, from almost $30 to $2.

From Boom To Bust …

Opposing Views

It would be easy to pin the 2018 crash in bitcoin prices as simply the bursting of a bubble; and, according to crypto skeptics, that explanation is the correct one.

“It was a huge bubble, and then you ran out of buyers,”…