The crypto industry is once again feeling the chill of winter.
Bitcoin is experiencing one of the biggest crashes in history—that’s apparent. But Bank of America Research’s Flow Show research note has crunched data and put it in historic terms: It’s the fifth-worst collapse of an asset in financial history, nearly as great in scale as the Mississippi & South Sea Co. History buffs would know that episode better as the South Sea Bubble, and it was so long ago—the early 1700s—that the United States did not yet exist and the U.K. was involved in the War of the Spanish Succession.
