Bitcoin is strong in interest rate rise, but should it be recognized as a safe asset?
Bitcoin’s volatility has been relatively low, although prices such as stocks and bonds have been sninging as interest rates have soared in recent years due to inflation concerns. Among investors, the analysis is that gold is increasingly perceived as a substitute safe asset.
As of 8:50 a.m. on the day, 1 Bitcoin was 67.82 million won, according to The Korea Cryptocurrency Exchange Broome. At Broome, bitcoin prices remained at 68 million won from the afternoon of the 19th to dawn on the day, and then fell a bit to 67 million won after 5:40 a.m.
Bitcoin also maintains a $58,700 line, according to Investing.com. On the 19th and 20th, the previous day rose 0.75% and 1.12% respectively. Earlier, between the 12th and 18th, the total width of the day was greater from +6% to -5.7%.
Stocks and bonds, meanwhile, have been experiencing extreme volatility in recent years due to current implications of the Fed’s concession of higher on-market interest rates.
The Nasdaq index fell -3.02 percent on the 18th. It closed at +0.76% on the 19th, but fell as much as -0.58% in the long-held quarter. U.S. 10-year Treasury rates rose 3.66 percent on the 18th and 1.38 percent on the 19th.
Bitcoin has recently expanded its presence on Wall Day, announcing that it will launch a related fund at Morgan Stanley, a large U.S. bank. Morgan Stanley announced its policy to create three Bitcoin funds for employees responsible for private banking (PB) sales on the last 17 (local time).
Kathy Wood, founder and CHIEF EXECUTIVE OFFICER of Akinvest and nicknamed the “Don Tree Sister” in Korea, also forecast that Bitcoin could rise by up to $400,000 ($450 million) this month.