MacroVoices #352 David Rosenberg: This Bear Market Has A Long Way To Go
Macro Voices
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Cryptocurrencies Aren't Equities
The US dollar at the peak was up something like 15% on a year-of-year basis. Currencies aren't equities, and currencies don't normally swing like that in one year. It's happened a handful of times since the mid-1970s that you've had such a dramatic bull run in the US dollar. And I think people are now having a second look or second thought about whether it was a wise move to treat crypto as an alternative to gold.
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