[Taklimakan Blog] Cryptocurrencies Are Becoming Conceptual

In March, the Fed announced its intention to stimulate the economy indefinitely in the fight against the crisis. At the same time, gold and silver added significantly less, and the US dollar was trading in a sideways range. What provides the main cryptocurrency with such a strong efficiency relative to other assets?

To answer the question, you need to decide what is Bitcoin? A little risky asset, an intermediate link between fiat instruments, a store of value?

Tim McCourt, head of alternative investment products at CME Group, believes Bitcoin’s unrivaled performance may be due to its reputation. This innovative currency has 11 years of experience and excellent technical performance despite volatility.

Traders trust Bitcoin more and more, especially if they know how to use futures and options in their strategies.

Banks also support the positive sentiments of market participants. It is known that when money is thrown into the economy, it always appears, moreover, in the most unexpected places. If stocks rise, metals fall, and cryptocurrencies set new records altogether.