According to Jacobs, political tension around the world and growing uncertainty accelerate the diversification of assets among central banks of different countries:
“All this diversification from traditional assets towards cryptocurrencies and gold began three to four years ago. We observe a significant influx of funds in ETF on bitcoin. And all this is because investors are looking for assets with independent market behavior. ”
Bitcoin shows a relatively low correlation with the US stock market in the long run – in the context of the existing instability, the first cryptocurrency behaves differently than shares or bonds, the representative said BlackRock.
Bitcoin turned out to be “surprisingly stable” in the conditions of a trade war-compared to altcoins and indices like S&P 500-although it remains vulnerable to the fears of a recession in the United States, the expert emphasized.
Earlier analysts of the American company Ark Invest They saidthat by 2030, the bitcoin exchange rate could be $ 2.4 million against the backdrop of the growing asset by large investment funds.
Source: Bits
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