Stock market was outperformed by the number one cryptocurrency by 10 times since the start of 2019. According to the coming altcoin news, bitcoin’s price is up by 111 percent this year while stocks have an increase by 12 only.
Morgan Creek Digital CEO Anthony Pompliano made clear that bitcoin did amazingly since the start of the year. Between April and May alone, the price of BTC added $2,000 to its market price. As e-Toro’s Mati Greenspan put it:
‘’At this point, a $200 move in the price of Bitcoin could easily lead to a move of $2,000.’’
The billionaire venture capitalist Tim Draper, spoke to CNBC and pointed out that the newly established brands which go public such as Uber, aren’t going to experience huge price growths. Instead, he expects that the stock market and its value will increase by 10 to 20 percent. Bitcoin bulls, on the other hand, don’t get a headache for the top-ranked cryptocurrency since BTC has so far remained close to the $8,000 price point despite the recent downturns.
Mary Yusko, the Managing Director of Morgan Creek Capital Management, stated in an interview with one of the best cryptocurrency news sites and described BTC as a great investment portfolio diversifier. Many other commentators have stated previously that BTC will constitute at least one percent of every investment portfolio.
Yusko also expressed his opinions similar to Pompliano’s saying that BTC is always a better investment than stocks. Back in 2019, Yusko spoke about the potential of the cryptocurrency saying it was the greatest wealth opportunity of our time.
Bitcoin’s stock would be a great investment portfolio diversifier that could come into more significant prominence during a market decline. According to Yusko, the Federal Reserve and their comments on slashing interest rates show the awakening of the economic weakness.
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Central banks across the world are also on considering adding similar monetary policies.
The history of price precedence shows that the rate cuts can lead to market weakness as it was in 2001 or 2008. For some people such as the bitcoin bull Max Keiser and Travis Kling, Bitcoin is a hedge against the fallback from the ‘’irresponsible’’ central bank policies.
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