Gold vs BTC correlation signals Bitcoin becoming safe haven: BofA
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Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (
“The blockchain’s transparency gives us insight into the digital asset ecosystem that’s not available in traditional financial markets,” the analysts stated.
The new report comes amid the rising risks of the global economic recession, driving more demand for the inflation hedge. Bitcoin has lost about 70% of its market value amid the massive crypto winter of 2022, triggering more skepticism over its status as an inflation hedge.
