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As Bitcoin heads higher again, is it tracking gold or Wall Street?

From xm.com

{video} The debate about whether Bitcoin is a good store of value, and thus, comparable to gold, has been rumbling on for some time. But more recently, Bitcoin and other cryptocurrencies have seen some positive correlation with the US stock market, and in particular, with tech and growth stocks. Bitcoin’s incredible post-pandemic rally came to an abrupt halt in November, and the price went into freefall soon after. The moves mirror closely what’s been happening in equity markets. But now that the cryptocurrency king is heading back up again, it’s not clear whether the bulls are taking the lead from gold’s resurgence ... (full story)

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  • Category: Fundamental Analysis