Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2022-04-14 06:02:15

Bitcoin: Eight Months Later, Right Back Where We Started

Bitcoin was a somewhat surprising buy for me last year when I looked to diversify away from equities and bonds that held little value.This was a wild ride, with gains nearing 50% at one point. Yet, over time, these gains have evaporated and BTC is holding near levels where I initially started a position.I still see merit to holding this asset as investors look to benefit from the popular trend away from government-issued currency.However, the basis for my outlook last year has waned. The correlation between stocks and cryptocurrencies has strengthened. This limits the effectiveness of this hedge during times of uncertainty.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.