The stock market looks like the cryptocurrency is stable again, compared to Netflix (NFLX) stocks falling 25% in after-hours trading.
News that caused the dramatic fall reveals that streaming services are forecasting to lose 200,000 customers in the first quarter of 2022 and another 2 million subscribers this quarter on Tuesday. was. According to the company, this is the first time the company has aggregated user loss since 2011. Bloom barg.
Investors react by dumping NFLX shares in after-hours trading and price crash A minimum of $ 258.90 per year. It is unclear at what price the stock will open if trading begins at 1:30 pm Coordinated Universal Time on April 20.
Such price behavior has drawn some delight from the crypto community, which has long faced criticism from traditional investors that crypto is too volatile.
Cryptographic analyst and YouTube channel host IntotheCryptoverse Benjamin Cowen Tweet To his 622,000 followers today, the NFLX crash reminds us of “how the stock became like #crypto, not the other way around.”
look $ NFLX A -26% drop after business hours reminds me of how stock prices have changed. #cryptoNot the other way around
— Benjamin Cowen (@intocryptoverse) April 19, 2022
NFLX shares performed worse than Bitcoin in 2022 (BTC) There is this year. NFLX has lost 57% since January 1, 2022 hit a record high of $ 597.37. By comparison, according to CoinGecko, BTC has fallen 11% overall since the opening price in 2022 went from $ 46,319 to $ 41,288.
Other tech stocks are seeing daily losses like cryptocurrencies this year. February 2, PayPal (PYPL) It fell 20% from $ 172.77 to $ 139.89. On the same day, Meta Platform (Meta) — Previously Facebook — fell 25% from $ 327.82 to $ 244.65.
But before crypto experts go ahead, it should be noted that Bitcoin has fallen harder than those technology stocks during the previous crypto market crash. BTC fell at least 25% in one day on March 12, 2020, down 41% from $ 7969 to $ 4776.
Related: Meta may introduce token and digital currency lending services to the app: Report
Analysis conducted by cryptographic research firm IntoTheBlock and released on April 16th found Its BTC and Ether (ETH) “It is less volatile than many stocks, especially those that offer cryptocurrencies.”
The analysis used the Sharpe ratio to compare the volatility of different investments. The lower the score, the lower the volatility of the asset. Bitcoin received a score of -0.02, while Square (-0.05), MicroStrategy (-0.02), and Coinbase (-0.02) matched with a poorly performing BTC.
Lower returns, more volatility-contrary to common belief $ BTC When $ ETH Less volatile than many stocks, especially those offering cryptocurrencies
The Sharpe ratio describes the returns associated with price volatility.Here, most crypto companies are comparable to or below BTC pic.twitter.com/sV0QSsCR6J
— IntoTheBlock (@intotheblock) April 15, 2022
CoinStories Podcast Host Natalie Brunell Tweet Today, Netflix may be able to solve some of its current problems by adding BTC to its balance sheet.
Perhaps $ NFLX I need to get some #Bitcoin Content (and balance sheet BTC). ♀️
— Natalie Brunel (@natbrunell) April 19, 2022
