Bitcoin‘s popularity is on the rise this year and this intensified especially after the bulls returned to the crypto market back in April.
Since then, BTC-related predictions also became more bullish.
The Daily Hodl online publication mentions the latest research from the crypto management fund Grayscale.
This checked out Bitcoin’s trajectory since Donald Trump has first revealed the tariff hike from back in May as the US-China trade war escalated.
BTC vs. 20 asset classes, markets, and currencies
Experts have compared the performance of BTC against 20 other asset classes, markets, and currencies.
They did this in order to analyze whether Bitcoin is holding up as a hedge.
“While the risk asset drawdown is still in its early stages, we’re already witnessing Bitcoin’s price move higher. Specifically, Bitcoin has generated a cumulative return of 104.8% between May 5 — when tariff hikes were announced — and August 7, compared to an average drawdown of -0.5% for the other asset classes we analyzed over the same period…” according to data quoted by the online publication mentioned above.
They also note that “There are significant shifts taking place in monetary, fiscal, and trade policies around the world that will likely impact global markets well into the future.”
We recommend that you head over to the original source and see the complete data revealed by the experts.
Bitcoin vs. gold
Other than this, experts have been comparing Bitcoin to gold a lot lately and they believe that the most important crypto in the space can take gold’s place one day.
The billionaire businessman Mark Cuban said during a brand new interview with Kitco that Bitcoin’s fixed supply offers it an advantage over the prominent precious metal.
The Daily Hodl cites the man and reports that he said the following:
“I hate gold. Gold is a religion. There’s some fundamental value to gold, but it’s a collectible. I see gold and Bitcoin as being the same thing…”