Bernstein Analysts Evaluated Bitcoin (BTC): “Loving Gold and Not Loving Bitcoin During This Period…”

Asset management firm Bernstein analysts the world’s largest cryptocurrency Bitcoin (BTC) evaluated.

According to Bernstein, at this point in the macro cycle, it is “unreasonable” to love gold and dislike Bitcoin.

Bitcoin proponents have long emphasized the potential of BTC to act as a kind of digital gold, due to its divisibility, scarcity, and lack of dependence on a central distributor.

Bernstein Analysts Compare Gold With Bitcoin

“When we talk to investors, we hear that people are expecting a hard landing and markets are starting to take positions for the depreciation of the US dollar and US rate cuts, hence an increased preference for gold as a hedge,” Bernstein analysts Gautam Chhugani and Manas Agrawal said in a note released Monday. there is,” he said.

Analysts noted that while BTC is the best performing asset this year, “there is a limited belief that this is structurally a new Bitcoin cycle and that BTC will see a new period of growth.”

Analysts, who compared the rising gold and Bitcoin recently, said:

“If you love gold here, you should love BTC even more… Gold and Bitcoin correlation increases during times of crisis. And when there is a massive monetary depreciation, both BTC and gold rally, while Bitcoin outperforms gold.”

Analysts cited, for example, that after the Fed relaxed monetary policy to support the economy at the start of the Covid pandemic, BTC outperformed gold 2.9x over the three-and-a-half-year period.

*Not investment advice.

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