In the latest Bitcoin news, we are focusing on the performance of cryptocurrencies compared to stock markets. As all of these classes enter a bear market, some believe that cryptocurrencies and Bitcoin have a chance of becoming the best performing asset class next year.
As one self-proclaimed ex-equities portfolio manager named Travis King who is now heading up the cryptocurrency asset management firm Ikigai tweeted:
https://twitter.com/Travis_Kling/status/1076660659759300611
The US Federal Reserve initiated the quantitative easing (QE) ten years ago where it lowered the interest rates and bought trillions of dollars worth of government bonds and mortgage-backed securities. This move potentially saved the US from a major depression.
Right now, the main question is whether this situation could inspire investors to choose digital instead of fiat. According to Kling:
“It would make complete sense to me that crypto would bottom out months before traditional asset classes.”
Obviously, there are a lot of mixed opinions on the market. While some believe that crypto could continue to fall and be “the worst” performing asset class out of a global economy of bad performers, others think that believers in the new asset class will lead the charge and spur a reversal of the market.
Meanwhile, the reversal trend has brought more than $30 billion to the crypto market as Bitcoin recovers.
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