Source: CryptoNewsNet
Original Title: Here’s what bitcoin bulls are saying as price remains stuck during global rally
Original Link:
It’s no secret that bitcoin is currently failing its many narratives, including the claim that it can serve as an inflation hedge or a safe-haven asset amid uncertainty.
While gold has climbed more than 80% during this period of high inflation, geopolitical skirmishes, and interest rate uncertainty, bitcoin has dropped 14% year over year.
In theory, assets that protect against inflation should rise when the value of money falls. For gold and the rest of the precious metals complex, that theory has worked. For digital gold, not so much.
That divergence has raised fresh questions: why would anyone buy bitcoin now when precious metals and equities give better returns?
A group of longtime bitcoin bulls have been asked to defend their position on buying bitcoin despite current market conditions.
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What Bitcoin Bulls Are Saying as Price Remains Stuck During Global Rally
Source: CryptoNewsNet Original Title: Here’s what bitcoin bulls are saying as price remains stuck during global rally Original Link: It’s no secret that bitcoin is currently failing its many narratives, including the claim that it can serve as an inflation hedge or a safe-haven asset amid uncertainty.
While gold has climbed more than 80% during this period of high inflation, geopolitical skirmishes, and interest rate uncertainty, bitcoin has dropped 14% year over year.
In theory, assets that protect against inflation should rise when the value of money falls. For gold and the rest of the precious metals complex, that theory has worked. For digital gold, not so much.
That divergence has raised fresh questions: why would anyone buy bitcoin now when precious metals and equities give better returns?
A group of longtime bitcoin bulls have been asked to defend their position on buying bitcoin despite current market conditions.