Cryptocurrency
Bitcoin blahs? Benchmark crypto looked similar before past gains
As reported on Bloomberg, “Volatility should continue declining as Bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset, yet we expect recent compression to be resolved via higher prices. Primary demand and adoption indicators remain favorable, notably on-chain addresses, investor flows and futures open interest. Supply isn’t an issue, […]
As reported on Bloomberg, “Volatility should continue declining as Bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset, yet we expect recent compression to be resolved via higher prices. Primary demand and adoption indicators remain favorable, notably on-chain addresses, investor flows and futures open interest. Supply isn’t an issue, as it’s more constrained than gold’s, which tilts our view toward price appreciation, unless the basics of demand vs. supply economics have changed.
“Unparalleled global central-bank easing and rising gold values are enduring trends favoring a higher Bitcoin price. The benchmark crypto and gold both have positive macroeconomic underpinnings…”