This unprecedented year and its frivolous central-bank easing is now accelerating the maturation of Bitcoin toward a digital version of gold. Covid-19 was a key test and Bitcoin scored a home-run. Data shows that trading volume on the NYSE Bakkt Bitcoin exchange has seen a strong increase and institutional investors are accumulating BTC.
Paul Tudor Jones, a billionaire hedge fund manager, told clients earlier in May that he was purchasing Bitcoin as an inflation hedge, according to Bloomberg. Emphasizing that governments have spent trillions of dollars on asset purchases and fiscal stimulus in recent months, he chose Bitcoin over other assets like Commodities and Treasuries.
Happy Bitcoin Halving to all you wonderful early adopters! We are the cusp of another record-shattering Bitcoin bull run, hence this will be our last weekly issue as we move to monthly publications while preparing the launch of our commercial UK fund in the coming months. Stay financially safe, with Love, The DFC Team
Bitcoin is now the best performing asset of 2020, having recovered 146% since the market crash, and up over 20% YTD - beating Gold to the throne! Bitcoin was already the best performing asset in the past decade, now cryptocurrencies just did a mic-drop amidst a global recession.
The Future of Capital is Digital.
It's shaping up to be a paradigm-shifting recession. The world's most traded commodity oil went to sub-zero, while Bitcoin has delivered 99% growth in 6 weeks and is back to near pre-Covid19 prices.
Sign of the times.
Its a good time to be an early tech-adopter. With love, The DFC Team.
A perfect storm amidst a beautiful spring, with a perfect solution quietly gathering momentum as Bitcoin sees all-time high institutional investments. We see much more economic pain ahead, this is just the warm-up party, but for the first recession in history, we have an option to opt-out of systemic wealth erosion
Traditional markets are attempting to stabilise, but we forecast further downside to come in the mid-term. Meanwhile, Bitcoin has come under mild supply pressure and we remain risk-off short-term until we can define a high-probability market structure. We remain very bullish mid-to-long-term as "Inflation is Coming".
COVID-19 continues to generate market volatility across the world, and although QE has provided temporary relief, it is logical that it will have a long-term detrimental impact on the economy, just as in 2008, and be net positive for crypto.
Amid the global financial meltdown, cryptocurrencies have started decoupling from the global sell-off and posted a strong performance in the past week. With BTC up 73% in the past 9 days. As the Fed is preparing to go on an unlimited QE printing spree, we are seeing investors hedge into crypto.
Wall Street suffered its worst day since Black Monday in 1987, and global financial markets are seemingly in free fall, with even typical safe haven assets like gold not being immune to the market fears. COVID-19 has eroded global economic confidence while the full severity of the contagion remains unknown.
It has been a very interesting week in the global markets, with the world fearful of the impact of COVID-19 on the global economy. Yet bitcoin is poised for continued bullish growth as an emerging alternative safe haven asset.
We hope you enjoy our new format for the weekly Crypto Market Insights, providing quick and accessible high-level news and forecasts for the emerging blockchain,fintech known as cryptocurrencies. We will be sharing these every Tuesday going forward.