The cryptocurrency and stock markets have traditionally moved in opposite directions. But now, the biggest crypto crash since August arrives at a time when leading tech stocks are also in freefall.

The FAANG stocks – Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Netflix (NASDAQ:NFLX), and Google (NASDAQ:GOOGL) – have slumped by more than 20% since their peak, officially entering a bear market, as indicated by data from Google Finance. Facebook, beset by bad publicity as well, fell 36% from peak prices as October wiped out most of the year’s gains for the pack.

Crypto projects and ideas developed in a climate where tech solutions managed to increase productivity and marketing opportunities for years. But then, the hype and enthusiasm led to excessive valuations that sparked s…

This article appeared first on Cryptovest

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