Bitcoin's price gains have lagged that of ether and Cardano's ada over the last few months. Is bitcoin still the market leader it was for years?
“Over the past few months, we’ve witnessed a marked change in that status and over the last week, we’re seeing the beginning of a clean break where Bitcoin is now following moves of other currencies like Ethereum,” he stated.“Bitcoin does not lead markets anymore,” he stated. “It has exhibited both poor upcapture and poor downcapture all year, meaning it doesn't keep pace with rallies AND sells off more than other assets in downturns.
“There are new sectors that have much faster growth trajectories, like DeFi , gaming, sports, NFTs and web 3.0, all of which have completely different factors and token attributes that contribute to their returns.”VP of financial products Jesse Knutson offered a more optimistic take, weighing in on how the world’s most prominent digital currency continues to develop.
“Given the massive change in market participants this year, I think it makes sense to see some price divergence between Bitcoin and more speculative digital assets from time to time,” Knutson stated. As time goes on, she expects individual digital assets to derive their values less from speculation and more based on their own specific characteristics.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
He Cheated—So I Bought a House With His BitcoinWhat happens when half a Bitcoin gifted by an ex-boyfriend rises to $20,000.
Read more »
Over 11 million Americans will lose some unemployment benefits Sept. 6 as extra funds endAbout 8.9 million are expected to lose all unemployment benefits, while 2.1 million will lose only the extra $300 federal aid connected to COVID relief.
Read more »
Naomi Osaka Has Meltdown at U.S. Open, Plans to Take Break From TennisNaomi Osaka had a disastrous match Friday ... repeatedly losing her composure and ultimately losing her U.S. Open match ... and she says her future in tennis is now uncertain.
Read more »
Moderna Keeps Soaring, Zoom Fades, as Hot Covid-19 Stocks DivergeShares of Zoom, Peloton and Teladoc posted impressive returns in 2020 but each is down by double-digit percentages in 2021, while vaccine-maker Moderna continues to rocket higher.
Read more »
An investor's guide to Cardano, which has mysteriously become the No. 3 crypto in the worldNew for subscribers: An investor's guide to Cardano, which has mysteriously become the No. 3 crypto in the world. Check out CNBCPro today.
Read more »
Why the CDU/CSU’s Armin Laschet is floundering in Germany’s electionArmin Laschet's personal approval ratings are catastrophically bad, which has helped drive national support for the CDU/CSU to some of their lowest-ever levels
Read more »