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- Bitcoin is often touted arsenic a integer gold.
- The marketplace turmoil has challenged that narrative.
A mentation of this communicative appeared successful our The Roundup newsletter connected March 14. Sign up here.
Happy Friday, Trista here.
BlackRock’s Larry Fink famously touts Bitcoin arsenic integer gold. But this week was yet different reminder that Bitcoin — and indeed, crypto successful wide — behaves arsenic thing but.
Gold connected Friday deed $3,000 an ounce for the archetypal time.
Trump’s zig-zagging tariff policies are giving investors whiplash, driving them into havens similar gold.
The precious metallic has spiked and truthful has Wall Street’s “fear gauge,” the VIX, which is up 57% implicit the past month.
Words similar “correction” and “recession” are popping up an atrocious batch — alongside much colourful presumption similar “psychodrama.”
Investors are dumping risky assets astatine levels not seen since the Covid-19 pandemic.
The S&P 500 is down much than 8% from its February 19 record, portion the tech-heavy Nasdaq has plunged astir 12% from a caller high.
All of this upheaval should, successful theory, nonstop investors to Bitcoin. It’s a finite asset, it’s ne'er been hacked, and backers similar Fink assertion it’s a great hedge against currency debasement and geopolitical strife.
And yet, clip and again, Bitcoin’s terms behaves conscionable similar a tech banal connected the Nasdaq.
The inclination has not gone unnoticed. The ETF Store’s Nate Geraci said connected X: “If Bitcoin equals ‘digital gold,’ past clip to enactment similar it. Otherwise, it volition reenforce the communicative that it’s simply a precocious beta asset.”
Bitcoin terms stabilises aft immense slide. Four experts connected what comes next
The crypto marketplace has mislaid astir a 4th of its worth since President Donald Trump was inaugurated. Now everyone wonders what’s next. So we asked around.
Bitcoin ETF meltdown nears $1bn — but JPMorgan sees a reprieve
Investors person been dumping Bitcoin exchange-traded funds. It’s been brutal.
Bitcoin traders heap $550m into bets that the terms volition spell adjacent lower
Traders are covering the downside hazard of a Bitcoin slump this month. Analysts are inactive bullish connected semipermanent terms recovery.
Post of the Week
The marketplace has been successful turmoil. As always, immoderate traders enactment their wealth into their hopes that the marketplace bounces back.
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