HomeCryptoThe enduring positive correlation between bitcoin and stocks

The enduring positive correlation between bitcoin and stocks

-


Cryptocurrency Outlook and Expert Insights: Bitcoin Stability, Ethereum Gains, and Political Influence

Bitcoin (BTC-USD) has been on a rollercoaster ride in recent months, but it seems to be finding stable ground after reaching an all-time high earlier in 2024. The crypto space has also seen gains in ethereum (ETH-USD) following the approval of spot ether ETFs by the SEC in late May.

Ben McMillan, Chief Investment Officer at IDX Advisors, shared his insights on the cryptocurrency market, highlighting the correlation of Bitcoin to stocks and the impact of macroeconomic factors on its performance. He emphasized the positive correlation of Bitcoin to risk assets, suggesting that investors need to factor this in when considering it in their portfolios.

McMillan also discussed the influence of traditional investors like Peter Thiel on the crypto market, noting that structural bullishness on crypto remains strong despite potential volatility ahead. He highlighted the importance of understanding Bitcoin as a high beta, high duration tech play within investment portfolios.

In addition, McMillan touched on the significance of crypto in the upcoming presidential election, noting the active role of crypto PACs and the favorable sentiment towards Trump within the crypto community. He emphasized the growing influence of the crypto lobby and its impact on shaping a more thoughtful narrative around cryptocurrency innovation in America.

Overall, the outlook for Bitcoin and the broader crypto market remains positive, with potential catalysts like spot Ethereum ETFs and continued macroeconomic trends shaping the future of digital assets. Investors are advised to stay informed and cautious amid potential volatility, but the long-term prospects for crypto assets like Bitcoin appear promising.

LATEST POSTS

Blockchain Use Cases Gaining Traction as User Experience Improves

The Evolution of Cryptocurrency Usability: Simplifying Complexity for Wider Adoption "Traditional Payment Firms Embrace User-Friendly Crypto Innovations" In the fast-paced world of cryptocurrency and blockchain technology,...

Solid backing suggests promising growth prospects

Ethereum Price Consolidates Near $3,800 Support The price of Ethereum has been on a rollercoaster ride, with the cryptocurrency testing the $3,700 support level before...

Ethereum Experiences $3 Billion Outflow from Crypto Exchanges Following ETF Approvals

Ether Reserves on Exchanges Drop by $3 Billion Following Approval of Spot Ether ETFs Title: $3 Billion Worth of Ether Removed from Exchanges Following Approval...

Bitcoin’s price could potentially surge to $130,000 by September 2025 following the halving event.

Bitcoin (BTC) Bull Market Cycle Peak Predicted to Reach $130,000 to $150,000 by September, Says Trader Peter Brandt Crypto trader Peter Brandt predicts that Bitcoin...

Most Popular