The current development on the markets is surprising because the situation has changed completely.
(Photo: Reuters)
Dusseldorf As an observer of the financial markets, you currently feel transported back to 2021: tech stocks are in demand, investor Cathie Wood’s flagship fund is rising faster than the overall market and the cryptocurrency Bitcoin is breaking one round mark after the other.
Admittedly, there were painful months between 2021 and today for technology and crypto investors. Rising interest rates and a reduced appetite for risk made for a toxic market environment: the US tech index Nasdaq 100 lost a third of its value in 2022, Wood’s ARKK ETF even lost two-thirds and bitcoin fell 64 percent.
But as soon as the gloomy market mood seems to have cleared up, investors promptly turn to risky assets again: the Nasdaq has gained six percent since the beginning of the year, the ARKK almost 17 percent and the Bitcoin recently rose above the $ 23,000 mark – an increase of almost 40 percent since the beginning of the year.
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