Crypto: Positive bitcoin-stock correlation is 'here to stay'

) is finding stable ground following a streak of volatility in recent months since reaching an all-time price high earlier in 2024. Additionally, the crypto space has seen gains in ethereum around the rollout of spot ether ETFs after the Securities and Exchange Commission approved such product offerings in late May.

So what can investors expect in the second half of the year here to help us answer that question and more we want to bring in Ben mcmillan, Chief Investment Officer at ID X Advisors.I think lots of people are, are at home questioning whether or not we are going to see this return of excitement when it comes to the crypto market.

But I do think a lot is going to depend on the macro in Q three, you know, Bitcoin is for better or for worse, highly correlated with the NASDAQ. He, he's still not listen, he, he holds some bit Bitcoin but he said he isn't sure the price will rise dramatically from here.I found it interesting because it's hard to not be kind of structurally bullish on crypto in general at this point in the cycle.

So, you know, investors need to understand that positive correlation to risk assets of a Bitcoin is here to stay. It's certainly not gonna go back negative now with, you know, any kind of long term structural outcome.Ben, are you surprised the way crypto has become an issue uh in this presidential election?

You know, if you know Trump, I think has been strategic about trying to court the crypto community saying, you know, he's going to do a lot of good things for crypto.

Source: Digital Coin News (digitalcoinnews.net)

Peter Thiel President Trump Correlation Ben Mcmillan Securities And Exchange Commission Product Offerings

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto volatility declines as BTC and alts coil tighter, large caps dominate equitiesThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Crypto Fear and Greed index hits 70: Impact on BTC, ETH & SOLThe crypto Fear and Greed index indicated growing greed among buyers despite falling prices. What will buyers do going forward?
Source: CryptoAmb - 🏆 22. / 68 Read more »

$500K Bitcoin forecast: Analyst maps out BTC’s bull run timelineBitcoin [BTC] continues to hold the spotlight, especially following the recent market consolidations.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin on the brink: Could we see a soar to $79K soon?Bitcoin [BTC] remains at the forefront of many discussions and analyses.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Crypto fund inflows hit $15 billion YTD, Australia to launch first spot BTC ETF on TuesdayThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin: Trading interest on a high, will BTC’s price follow suit soon?There is growing demand for Bitcoin Futures contracts. Will this translate to positive activity for Bitcoin in the near future?
Source: CryptoAmb - 🏆 22. / 68 Read more »