Cryptocurrency

Bitcoin

In what was a very turbulent day for global markets, cryptocurrencies were among the hardest-hit assets, with Bitcoin falling 15%, its worst day since June 2022.
This steep decline has reignited debate over Bitcoin's reputation as a 'safe haven' asset and a hedge against market uncertainty.
Bitcoin's sharp decline followed a weekend of intensified selling across broad markets. The Dow Jones Industrial Average fell as much as 1,000 points on Monday, adding to Friday's 611-point decline. Meanwhile, the tech-heavy Nasdaq Composite fell as much as 6% at one point. In this environment, Bitcoin dropped up to 17% of its value, causing investors' concerns.
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During periods of market turmoil, Bitcoin is often expected to defy broader trends. However, crypto investors and analysts argue that Bitcoin's versatile nature makes it both a risk asset and a store of value. “Bitcoin is a hedge against uncertainty, it's also a risk asset, it's also an investment for interest rates, so many things. In a way, because of the diversity of its trends,” Noelle Acheson, economist and author of the “Crypto Is Macro Now” newsletter, told CNBC. “That's why it tends to have a firmer footing than other risk assets like stocks.”
Despite recent losses, Bitcoin is up nearly 20% for the year compared to the S&amp;P 500's gain of 9%.
Before this weekend's turmoil, Bitcoin found support around $55,000 but had difficulty breaking the $70,000 ceiling. Acheson suggests that this support level could attract value investors. “Value investors will see $55,000 as a very good price to take a position, especially if Bitcoin is to be a hedge against world structure turmoil over the long term,” he added.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/economist-noelle-acheson-shares-the-most-important-level-for-bitcoin/" rel="noopener noreferrer nofollow">Economist Noelle Acheson Shares The Most Important Level For Bitcoin</a>

Economist Noelle Acheson Shares The Most Important Level For Bitcoin

Bitcoin Sistemi EN

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