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Veteran fund manager says Bitcoin looks like Google in 2017
Bitcoin (BTC) is once again at the center of a familiar debate: Is it behaving more like a risk-on tech stock than the “digital gold” many long-term supporters describe? In October, analyst Jesse Colombo argued that Bitcoin’s price movements continue to resemble those of high-beta tech equities — assets that respond strongly to shifts in macro sentiment. Now, former hedge fund manager and Real Vision founder Raoul Pal has added momentum to the discussion, drawing direct parallels between Bitcoin and Google. Bitcoin has struggled to regain momentum after its early-October peak near $126,000. The asset fell ... (full story)
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