Bitcoin (BTC) may be down over 30% from its record high of $69,000, but it has emerged as one of the best-performing financial assets in 2021. BTC has bested the United States benchmark index the S&P 500 and gold . Arcane Research noted in its new report that Bitcoin’s year-to-date performance came out to be nearly 73%.
Read moreIs bitcoin correlated to the stock market?
Bitcoin’s movements are now mirroring those of U.S. stocks to an unprecedented degree. A 40-day correlation coefficient for the digital token and the tech-heavy Nasdaq 100 has reached almost 0.66 — the most in data compiled by Bloomberg since 2010 — while a similar correlation with the S&P 500 is at a record too.
Read moreIs Bitcoin still a thing?
Bitcoin, as of December 2020, has experienced a steady rise to reach new all-time highs, breaking through $20,000 per BTC , but it was not always so steady. Cryptocurrencies like Bitcoin and Ethereum have indeed proven resilient.
Read moreWhat is the current situation of Bitcoin?
Bitcoin Price Update Bitcoin PriceValueToday/Current/Last34,63,5061 Day Return0.17%7 Day Return5.89%Bitcoin price live today – The Economic Times m.economictimes.com › markets › bitcoin-price › cryptodetail › symbol-btc
Read moreWhy has Bitcoin gone down?
Part of the reason behind this sharp decline in the value of Bitcoin is down to policy changes from the US Federal Reserve , as its chair, Jerome Powell, declared last December that the monthly rate at which it reduces asset purchases would be doubled by the Federal Open Market Committee (FOMC).
Read moreCan Bitcoin just disappear?
Bitcoin mining fees will disappear when the Bitcoin supply reaches 21 million .
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