DigitalGold
Crypto enthusiasts have long touted bitcoin as digital gold, but an analysis of the cryptocurrency’s performance versus those of other assets shows that it hasn’t really earned that status yet. One thing that’s still lacking is a widespread market perception of crypto assets as a store of value. Cryptocurrencies remain a minuscule part of the global financial markets, with a total market capitalization of $1.1 trillion as of August, a significant decline from their record market cap of $3 trillion. The crypto markets are only about 2.5% of the total U.S. equity market cap. Q3 2022 hedge fund l...
ValueWalk
“The crypto world’s hopes for assets like Bitcoin to achieve digital gold status have evaporated as speculators have headed for the exit as the crisis in Ukraine has deepened. Because of its fixed supply Bitcoin had been hyped as a potential safe haven in times of higher inflation and market volatility, but instead has swung wildly down as equity market sell offs have intensified. Crypto assets have been shown to be highly sensitive to the fortunes of the stock market and were propelled higher in an era of ultra cheap money. As conflict in Ukraine looks set to be yet another inflationary drive...
ValueWalk
New Bitcoin Investment Vehicle Debuted on Wall Street, With More on the Way Q3 2021 hedge fund letters, conferences and more A newBitcoin-focused exchange-traded fund, ProShares Bitcoin Strategy ETF, debuted on Wall Street. ProShares Bitcoin Strategy ETF will trade in Bitcoin futures contracts that speculate on the future price of Bitcoin as opposed to the cryptocurrency itself. In anticipation of the launch of the ETF, Bitcoin recently jumped 3%. Also, Bitcoin futures increased by 2%. Asset managers estimate that with the introduction of crypto NFTs, particularly with Bitcoin, valuation will ...
ValueWalk
What happened with Bitcoin this week? Many investors who are new to the digital currency world might be scratching their heads with the Bitcoin news today. Why Bitcoin is increasing in value this week? After passing $16K and $17K within the last few days, this tidal wave has had multiple influences on the broader market’s bull run. All of them seem to support a strong base for Bitcoin’s success to continue. With tons of new support from major financial figures and the recent weakening of the US Dollar, Bitcoin’s price rally may be just the beginning. Other cryptocurrencies may also capture inv...
ValueWalk
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