Bitcoin is just another tech stock, not a market hedge, study shows

Bitcoin is just another tech stock, not a market hedge, study shows

In the short term, bitcoin may be better viewed as a tech stock than as a hedge against traditional finance risks, says Standard Chartered.

Critical 70% Bitcoin-Nasdaq Correlation: Is a Divergence Imminent?

Are you noticing a familiar dance between Bitcoin and the stock market lately? If you’re invested in crypto, especially Bitcoin, or keep an eye on traditional markets like the Nasdaq, you should be paying close attention to a fascinating trend. The correlation between Bitcoin and the tech-heavy Nasdaq is flashing a signal – and it’s one that could have significant implications for your portfolio. Let’s dive into why this Bitcoin correlation is r…

Bitcoin is considered a technology stock. Lower volatility was observed in the imaginary index. Review encourages portfolio diversification. Read More: Tesla or Bitcoin? Preference Changed in New Index

Rapid City financial advisor Rick Kahler: Cryptocurrency isn’t money, nor is it a smart or safe investment — The South Dakota Standard

Is cryptocurrency really money?For years, I thought of cryptocurrency as a digital replacement for traditional money. After all, Bitcoin (one of its vending machines in Rapid City is seen above, photo by John Tsitrian) has “coin” right in the name. But let’s be honest: if Bitcoin is a currency, then my mother’s old Beanie Baby collection is a retirement fund.A real currency needs to be stable. It should allow you to buy a coffee today without wo…

Nasdaq Drop Pulls Bitcoin Down While FX Guys Keep Pumping!

The post Nasdaq Drop Pulls Bitcoin Down While FX Guys Keep Pumping! appeared first on Coinpedia Fintech News The financial markets have recently experienced notable turbulence, highlighted by a significant decline in the Nasdaq Composite Index. Most affected by this downturn has been Bitcoin, indicating how connected traditional equity markets are becoming and crypto. Bitcoin was historically seen as a hedge against conventional financial system…

Bitcoin Has Been Trading Like a Tech Stock: Standard Chartered - WorldNL Magazine

Given the Bitcoin price has a high correlation with the Nasdaq, investors would do well to treat it more as a tech stock than a hedge against volatility in traditional markets, according to Standard Chartered analyst Geoff Kendrick.To test his theory, Kendrick created a hypothetical "Mag 7B" index, a spin on the Magnificent 7 index, that replaces Tesla with Bitcoin. Normally, the Mag 7 refers to tech giants Apple, Microsoft, Nvidia, Amazon, Alph…