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Cryptocurrencies & The Bumpy Road Ahead
While Bitcoin reached a new all-time high of $73,805 in March, over the weekend, Bitcoin faced its most substantial decline in over a year, primarily attributed to escalating geopolitical tensions in the Middle East. Just 18 months ago in mid-November 2022, Bitcoin was trading at $15,500. Today, it has recovered all losses since its previous peak in November 2021. In fact, Bitcoin has experienced some of its most significant losses and subsequent recovery relative to other traditional assets such as gold, the US dollar, and the S&P 500. The market capitalisation of Bitcoin even briefly surpassed that of silver. Our ... (full story)