Bitcoin is 'king of assets' - according to analyst firm Delphi Digital

Analyst firm Delphi Digital has dubbed Bitcoin (BTC) the "King of the Asset Class." The cryptocurrency's stock market performance over the past few months was highly rated. [...] https://www.pinterest.com/pin/1085437947660215829/

Analyst firm Delphi Digital has dubbed Bitcoin (BTC) the "King of the Asset Class." The cryptocurrency's stock market performance over the past few months was highly rated. The fact was reported by Next Web on June 3. Delphi Digital based its assessment on the gains that Bitcoin has given investors over the past four months. It also appreciated how the cryptocurrency began to gain when traditional assets began to fall. "The improved performance is particularly important given the overall weakness in many other asset classes," - the company reported. A run on cryptocurrencies? According to Delphi Digital, investors are being forced to leave riskier assets in the face of weakening sentiment related to the apparent economic slowdown this year. This is certainly influenced by the ongoing trade war between the U.S. and China, which some believe is starting to turn into a Cold War. A famous opponent of BTC, Nouriel Roubini, recently spoke about the dangers of competition between China and the USA. Nouriel Roubini was one of the speakers at the European Financial Congress in Sopot. His speech concerned mainly the subject of threats resulting from the fight between the USA and China. He admitted that both countries want to compete in terms of access to technological resources. Although Roubini is almost enemy number 1 of cryptocurrencies (or at least he fights for supremacy in this category with Warren Buffet), his macroeconomic forecasts may turn out to be very good for Bitcoin. Why? Because if the situation becomes increasingly tense, the price of a single coin could rise. At least that's how cryptocurrencies have reacted so far in their history when the world was threatened with a crisis. It was so during the problems with the banking system in Cyprus or the period of announcing the results of the referendum on Brexit. In turn, one of the biggest fans of cryptocurrencies in the world, Michael Novogratz, the founder and CEO of Galaxy Digital, said that he expects a consolidation on the BTC chart in the range of $7,000-10,000. Only then does he hope for further increases. At the time of writing these words, one Bitcoin costs $7,933. The main cryptocurrency passes a correction reaching so far less than 7%. Along with BTC, other leading digital currencies are also falling. Tags bubble bitcoin price bull market exchange rate