Bitcoin: digital gold or tech share? Analyst questions traditional views and predicts price increase to $ 500,000 by 2025

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Bitcoin: Digitales Gold oder Technologieaktie? Bitcoin wird häufig mit Gold vergleichbar und als Absicherung gegen finanzielle Risiken beworben. Der Analyst Geoffrey Kendrick von Standard Chartered hinterfragt jedoch diese Sichtweise und argumentiert, dass sich die weltweit größte Kryptowährung eher wie eine Aktie eines großen Technologieunternehmens verhält. Korrelation zwischen Bitcoin und dem Nasdaq In seiner jüngsten Mitteilung an Kunden stellte Kendrick fest, dass der Bitcoin-Handel über kurze Zeiträume stark mit dem Nasdaq korreliert. Diese Erkenntnis wirft Zweifel an der weit verbreiteten Auffassung von Bitcoin als "digitales Gold" auf. Aktuell ist die Korrelation von Bitcoin mit dem technologieorientierten Index auf einen Höchstwert von …
Bitcoin: digital gold or technology share? Bitcoin is often comparable to gold and advertised against financial risks as a protection. However, the analyst Geoffrey Kendrick from Standard Chartered questions this perspective and argues that the world's largest cryptocurrency behaves more like a large technology company. Correlation between Bitcoin and the Nasdaq In its most recent announcement to customers, Kendrick found that the Bitcoin trade has severely correlated with the NASDAQ over short periods of time. This knowledge raises doubts about the widespread view of Bitcoin as "digital gold". Currently, the correlation of Bitcoin with the technology -oriented index is at a maximum of ... (Symbolbild/KNAT)

Bitcoin: digital gold or technology share?

Bitcoin is often comparable to gold and advertised against financial risks as protection. However, the analyst Geoffrey Kendrick from Standard Chartered questions this perspective and argues that the world's largest cryptocurrency behaves more like a large technology company.

correlation between Bitcoin and the Nasdaq

In his latest notification to customers, Kendrick found that the Bitcoin trade has severely correlated with the NASDAQ over short periods. This knowledge raises doubts about the widespread view of Bitcoin as "digital gold". Currently, the correlation of Bitcoin with the technology -oriented index has increased to a maximum of 0.8, but is now around 0.5. For comparison: the correlation of the assets with gold is currently only 0.2 after it had recently even reached zero. This data indicates that Bitcoin behaves more like a great technology share and less like the king of metals.

However,

Kendrick does not only look negative and explains: "Several uses will bring fresh capital inflows into the assets." After a decrease of less than $ 80,000, Bitcoin's price has recovered by more than 10 % in the past two weeks.

Bitcoin and the Magnificent 7

In his latest research, Kendrick suggests the idea of ​​"Mag 7b"-a merger of Bitcoin and the "Magnificent 7" tech shares. Since December 2017, this hypothetical index has cut better than the Magnificent 7. Kendrick noted: "The relative returns of the MAG 7B are both absolutely and decent on calendar year."

Bitcoin has shown a volatility -adjusted trade behavior since President Donald Trump's inauguration, similar to the development of Nvidia. Nvidia has fallen by about 12 % since January 20, while Bitcoin has lost about 16 % in the same period.

forecast for the Bitcoin course by 2025

Despite the recent declines and the ongoing uncertainty from the White House, the London Bank Standard Chartered continues to buy BTC from weakness. Kendrick predicts that the price of the financial value could reach $ 200,000 by the end of this year and will increase to $ 0.5 million by the end of Trump's term.

Part of the continued weakness of Bitcoin could be due to the $ 1.5 billion by BYBIT hack in February. Nevertheless, the analyst is convinced that the crypto industry will become safer through increasing "institutionalization". Furthermore, crypto-friendly guidelines and regulatory clarity under the Trump government are expected to increase the global interest in Bitcoin and contribute to increasing the price in the future.

Overall, it shows that Bitcoin as a asset is becoming increasingly complex and can be interpreted both as a digital currency and as a technology share.