According to Golden Finance, Bernstein analysts believe that Bitcoin's current decline is more resilient than the decline during previous crises. Citing historical data, analysts point to the fact that in previous times of crisis (e.g., market panic caused by the coronavirus pandemic, interest rate shocks, etc.), the most important cryptocurrency has fallen by 50% to 70%. "The current price action (-26%) indicates the demand for Bitcoin from more resilient capital.
Analysts believe that Bitcoin's price as a leading indicator of risk appetite will not undermine its long-term exceptional performance as a value storage tool in the digital realm. From a time scale perspective, Bitcoin is probabilistically the 'gold', "its trading method is a more volatile and liquid gold."
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Analyst: The current fall of Bitcoin is more resilient.
According to Golden Finance, Bernstein analysts believe that Bitcoin's current decline is more resilient than the decline during previous crises. Citing historical data, analysts point to the fact that in previous times of crisis (e.g., market panic caused by the coronavirus pandemic, interest rate shocks, etc.), the most important cryptocurrency has fallen by 50% to 70%. "The current price action (-26%) indicates the demand for Bitcoin from more resilient capital. Analysts believe that Bitcoin's price as a leading indicator of risk appetite will not undermine its long-term exceptional performance as a value storage tool in the digital realm. From a time scale perspective, Bitcoin is probabilistically the 'gold', "its trading method is a more volatile and liquid gold."