Performance Of Crypto Market Is Comparable To Stock Commodities- Know More
— Comparable, Stock, Market, Fracassi, Commodities, Similarities, Crypto, Performance, Volatility, Cryptocurrencies — 1 min read
Cesare Fracassi compared the performance of cryptocurrencies to that of stock commodities. The study shows two-thirds are related to macro variables, such as inflation and a persisting economic crisis. The values of crypto assets are currently following the same trajectory as equities in industries like tech, oil and gas, and pharmaceuticals. The global pandemic of 2020 increased the link between the values of stocks and digital assets, he said. Bitcoin returns provided more persuasive evidence of the trend’s similarities, the economist noted. The two most popular cryptocurrencies have a daily fluctuation between 4% and 5%, according to the monthly insight report. Similarities to commodities like natural gas and oil may be seen in such variations, Fracass said. Source