Buy the rumour and sell the news aka sell in May and go away

I am writing this just before the NY open of US markets. And we have the makings of serious losses on the back of an absolute pounding in the cryptocurrency space. There, the largest asset, Bitcoin, has been cut in half with most of the losses coming in the last 24 hours. I think this is all related to the convulsions of the reflation narrative ending a…

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