Where was Bitcoin that was “volatile”? Netflix crashed 25 percent in one day!

Where was Bitcoin that was "volatile"? Netflix crashed 25 percent in one day!

Netflix (NFLX) shares fell 25 percent with the opening of traditional markets after the holiday period.

The news that led to the sharp decline was the revelation that the streaming service lost 200,000 customers in the first quarter of 2022 and will lose another two million subscribers this quarter. Bloomberg to the data According to the company, the company has recorded its first loss in user numbers since 2011.

Investors in after-hours transactions NFLX It reacted by lowering its shares, causing prices to drop to a new year low of $258.90. When intraday trading starts on April 20, it is not yet clear at what price the stock will open.

Such price action has brought some cheer to the crypto community over the long-standing criticism from traditional investors that cryptocurrencies are too volatile.

Benjamin Cowen, crypto analyst and host of the Into the Cryptoverse YouTube channel, told his 622,000 followers today. in the statement“The NFLX crash is a reminder that stocks are actually similar to cryptocurrencies,” he said.

NFLX stock price outperformed Bitcoin (BTC) in 2022. The NFLX has lost 57 percent since January 1, 2022, when it was at its year high at $597.37. By comparison, BTC started 2022 at $46,319 according to CoinGecko data and is currently trading at $41,288. So overall it fell 11 percent.

Other tech stocks have also suffered crypto-like losses this year. On February 2, PayPal (PYPL) fell 20 percent from $172.77 to $139.89. On the same day, Meta Platforms (formerly Facebook)META), fell 25 percent from $327.82 to $244.65.

Cryptocurrency experts, however, remind us that Bitcoin fell harder than these tech stocks during previous crypto market crashes. The process where BTC fell by at least 25 percent in a single day took place on March 12, 2020, and on that day, a 41 percent decline was recorded from $ 7,969 to $ 4,776.

Related: Meta has filed 8 trademark applications

It was conducted by crypto research firm Into The Block and was announced on April 16. released The analysis included the statement that BTC and Ether (ETH) prices “have less price volatility than many stocks, especially cryptocurrencies.”

The analysis used the Sharpe ratio to compare volatility between different investments. The lower the score, the less volatility the asset has. Accordingly, while Bitcoin scored -0.02, Square (-0.05), MicroStrategy (-0.02) and Coinbase (-0.02) matched BTC.

Natalie Brunell, host of the Coin Stories podcast, said today that Netflix can fix some of its current problems by adding BTC to its balance sheet. tweet threw.

Soruce : https://tr.cointelegraph.com/news/more-volatile-than-bitcoin-netflix-shares-plunge-25

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