S&P: please stop worrying about any possible sudden collapse of the crypto market

The international organization S&P Global Ratings rejects the idea of Bitcoin and other cryptocoins being a possible catalyst for the crash of the global markets. Many fear that the sudden burst of the cryptocurrency bubble will harm other spheres, but this is is not going to “disturb stability or affect the creditworthiness of banks we rate”, told S&P in a new note issued yesterday.

The very similar opinion has previously been voiced by the Monetary Authority of Singapore. This country’s central bank denies the concept of digital currencies becoming new Lehman Brothers, or the starting point from which a new financial crisis might begin its journey across the world. The MAS also noted that the assessment and monitoring the cryptocurrency market is relatively easy due to its size.

The S&P 500 Index is one of the key instruments of common assets and exchange traders: for them, it tells about the overall status of the United States stock market. This is why there is a reason to believe that this new note by Standard & Poor’s may ease the concerns of bearish traditionalists.