Dec 02, · Fink went on to say that the cryptocurrency could possibly evolve into a global market asset, offering a rare positive statement from the respected asset manager, which may . Dec 03, · “Bitcoin has caught the attention and the imagination of many people. Many people are fascinated by it. Many are excited about it. But it’s still untested, it’s still a pretty small market relative to other markets. We see these big, giant movements every day it’s a thin market. So, can it evolve into a global market? Possibly. Dec 21, · Bitcoin had a steady flow of negative news after the Friday close when the Treasury proposed new disclosure rules for cryptos and Elon Musk tweeted what appeared to .
Bitcoin thin marketCrude crumbles, Gold softer, Bitcoin drops - MarketPulseMarketPulse
Can it evolve into a global market? Possibly," he concluded. Fink's comments come after BlackRock's chief investment officer in fixed income, Rick Rieder, last month speculated that bitcoin could take some of the shine off gold, possibly one day rivaling the precious metal's unimpeachable stature over the past 5, years as a store of value and hedge against the devaluing of fiat currencies.
For its part, bitcoin was engineered into existence via computer code in by an individual or individuals known as Satoshi Nakamoto. Gains for the blockchain-backed asset have been attributed to wider mainstream attention, notably from those of Fink's ilk. Hedge-fund luminaries, including Paul Tudor Jones link and Stanley Druckenmiller link , also have recently extolled the virtues of the nascent asset, as has Scott Minerd, Chief Investment Officer of investment bank Guggenheim Partners.
The quiet focus on bitcoin has helped it surpass the year-to-date performance of stocks, gold and an array of other traditional assets. The best performing asset of the year, Bitcoin is under pressure as a new COVID strain that spreads more quickly is triggering some panic selling across all risky assets. Bitcoin had a steady flow of negative news after the Friday close when the Treasury proposed new disclosure rules for cryptos and Elon Musk tweeted what appeared to be an endorsement for Doge, a competing cryptocurrency.
Bitcoin volatility will remain extreme over these next couple of weeks of thin trading. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors.
Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. December 21, Share Print 0.