“Bitcoin’s Strong Correlation with Gold Continues As Economic Uncertainty Grows.”, – WRITE: www.coindesk.com
ITS CURRENT PERFORANCE, UP LESS 1.5% SINCE DEC. 31, Places It Between Gold, WHICH HAS GAINED 24% AND THE NASDAQ 100, WHICH IS DOWN Over 7%. As a result, the Narrative Positioning Bitcoin as Eithus A Levered Tech Stock or Digital Gold Is Leaning Slightly Town of the Digital Gold Narrative. But Only Just.
Analyzing Bitcoin’s Correlation Coeficients Over a 30-Day MOVING AVERAGE, THE LARGEST CRYPTOCURRONCY by Market Capitalization Now Shows a Strong andh .5 NASDAQ 100. This Suggests Bitcoin is Aligning More Closely with Gold’s Behavar than with Tech Equities. Correlation Values Can Run Between 1, A Strong Positive Correlation, and -1, A Strong Negative Correlation.
Last Week, The Bitcoin Price Rose 10%, ITS Strongest Performance Since the Week Ended Nov. 17 During Price Run Following President Donald Trump’s Election Victory.
Meanwhile, Trump’s Tariffs Continue to Feed Economic Uncertain. US Levies on Chinese Goods Were Raissed to 145% Earlier this Month, Leading to A Significant Drop in Cargo Shipment Demand, Accounting To Bloomberg. As noted in the report, Major Retailers Like Walmart Are Warning that Empty Shelves and Higher Prices Could Return, Reminiscent of the Covid Era.
In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin, Microstrategy (MSTR), and Semler Scientific (SMLR).
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