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Felicia Tan
June 19 19:24

Opinion: $5 trillion are preparing to enter the bitcoin market

Investors may direct $4.6 trillion to buy bitcoin, said well-known macro-investor and co-founder of Gold Bullion International Dan Tapeiro.
Research company Refinitiv Lipper concluded that within three months after the decline in financial markets, investors were actively transferring their savings into currency. As a result, the volume of liquid cash reached US$4.6 trillion.
Tapeiro thinks that part of that amount could go to buy bitcoin and other cryptos. Given the decline in the yield of fiat deposits and deposits to almost zero, the analyst considers the possibility of investors moving into more risky assets. He added that gold and stocks will also share this portion of cash.
According to analysts of the largest U.S. bank JPMorgan Chase, the March collapse of the bitcoin was the first serious stress test for the cryptocurrency, which it successfully coped with.
In April, the founder of Quantum Economics Mati Greenspan declared that correlation of a bitcoin with S&P 500 has reached a maximum for nine years. In March, analysts of Arcane Research reported that this indicator reached a historical maximum.
Gold also correlates with Bitcoin according to VanEck Global analysts.