Bloomberg has published a report evaluating Bitcoin. According to the report, the cryptocurrency is ready to repeat the massive run of 2017.
Bloomberg and the evaluation of Bitcoin: Will 2017 be repeated?
The report talks about a number of reasons to think that the cryptocurrency market has finally matured and can be classified as a full-fledged partner for other markets, such as stocks, commodities and bonds.
Bloomberg even likens Bitcoin to gold. Both assets are considered safe havens and are expected to emerge victorious from the ongoing coronavirus crisis.
For Bitcoin and gold, great monetary incentives were a big help, but they could work without them. Next to them is the average stock market.
Bloomberg also notes that the correlation between gold and Bitcoin is at its highest in history.
This year we are witnessing the transformation of Bitcoin from a risky speculative asset to a cryptocurrency version of gold. However, this year will be the biggest test for Bitcoin. And we assume that he will finish it successfully.
The agency also notes that the increasing volume of derivatives and other new investment instruments indicate that the entire market is maturing.
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