Bitcoin price is trading at above $52,000 currently, yet less than one year ago from today it struggled to crack $10,000. Failure sent the cryptocurrency plummeting to Black Thursday lows, but from there confirmed the bear market was over, and has been in an uptrend ever since. During that time, compared to all other assets, Bitcoin has emerged as “the stimulus asset” over gold and the dollar. Here’s more on how this came to be, along with what this means for the first ever cryptocurrency moving forward.
Bitcoin Emerges As The Stimulus Asset, According To DoubleLine Capital CEO
Bitcoin is is off to an incredible start to the year, after closing out 2020 as the best performing asset bar none. The epic rise from lows set during the pandemic panic selloff in March to highs reaching now over $50,000 is nothing short of incredible.
During a year that left much of the world reeling, Bitcoin showed its true strength.