- Despite its lackluster performance of late, Bitcoin is still up by roughly 55% YTD.
- This is compared to a gain of only about 7.5% for the S&P 500 over the same time frame.
- However, Bitcoin's price action appears to be closely correlated with the price action in stocks in recent months.
- As the election approaches and uncertainties mount, Bitcoin could see quite a bit of volatility in the weeks ahead.
- Intermediate and long term, we remain bullish on Bitcoin and other key blockchain enterprises.
For further details see:
Bitcoin: Another Mini-Meltdown Appears Likely