In fact, Bitcoin (BTC) hit stock markets during the Covid-19 recovery with stocks “growth” simply because of inflation according to new data.
Diagrams of stocks in gold and bitcoin in 2020 show this Far from having the best quarter in ten years, the markets had no “recovery”..
“Everything is inflation”
The perspective is very different from the government’s message and the mainstream media about economic health.
The central bank’s intervention helped the shares achieve their highest quarterly growth since 2011 in the second quarter. Looking at BTC, the profits from the March collapse in the second quarter are just a modest recovery from a much longer and more serious downtrend.
In January, the SP 500 was trading at around 0.45 BTC, and that level declined until mid-March when there was a sudden rise of 0.5 BTC. After that, a drop below 0.3 BTC in May marked the end of a real U-turn, with the current levels at 0.33 BTC.
SP 500 / BTC chart for the previous year. Source: Ecoinometrics / Twitter
The same applies to crude oil.. BTC denominated, it was recovering to 433,000 Satoshis at press time Of the low 150,000 Satoshis in April, it pales in comparison to its January price of 900,000 Satoshis.
In the meantime, he commented on the gold stocks. Tuur DemeesterAdamant Capital, founding partner of Bitcoin’s Alpha Fund, questioned whether the macro has experienced any form of bailout.
“In my opinion, there is no recovery on the stock market, everything is inflation “summarized.
It should be noted that, as Cointelegraph reported, The SP 500 and Bitcoin continue to be closely correlated, with the movements of the former particularly affecting the latter.
Bitcoin sees an inflation spiral
Demeester addresses a topic that has become increasingly important in Bitcoin circles Since then, Covid-19’s responses have prevailed.
As stated this week, The economic policies of central banks around the world have led to interest rate cuts and much cheaper money. At the same time, central banks, particularly in the United States, have taken over the macro markets..
The result was a strangely strong return against a backdrop of a huge rise in unemployment and greater global debt than ever before.
Macro asset return in 2020. Source: Skew
Bitcoin is an increasingly attractive alternative as an incorruptible hard cashaccording to many.
This week the moderator of RT Max Keizer warned loudest of the effects of rising inflation.
He counted the opinions on his Keizer report program:
“The truth is there is only one way if you want individual sovereignty, if you want justice, if you want indestructible, distinctive, and indestructible wealth, and that’s Bitcoin.”