2018-11-4 14:45 |
The technology sector has been developing rapidly and various news outlets have been reporting on its stock growth in the S&P. Even with the growth though, some are saying that the tech sector stocks are more volatile than BTC, whose price is currently at an all-time low.
For instance, Bloomberg recently reported that BTC reached a lower price volatility than the S&P, which includes large-market capitalization firms traditionally. The S&P is a common indicator of the health of the tech market and beyond. Bloomberg reported that the market has been going through a ten-day historical volatility. This week, BTC has reached a point where it may be a more viable method of digital tender.
In the report’s own words,
“U.S. stocks resumed their slide Friday, ending a three-day advance amid renewed concern on trade. White House economic advisor Larry Kudlow earlier said he’s ‘not as optimistic’ as he once was for a China trade deal, pouring cold on a report that President Donald Trump has asked officials to draft terms for a deal with China’s Xi Juping.”
Although the traditional stock market has been experiencing a bull run, analysts predict that the outlook isn’t good over the long term. JP Morgan published a report two weeks ago that predicting a recession will occur by 2020 – or at least that there is a 60 percent chance of one. And, within the next three years, there is an 80 percent chance of one occurring. Tech stocks have never really outperformed the market and they seem to be suffering the most.
Even though Bitcoin has decreased by 60 percent since reaching its ultimate high of $20,000, there may be a bull market in the future as well, which may bring the value back. Further, the possibility of the acceptance of an ETF by the SEC may renew vigor toward cryptocurrency as well.
Right now, Bitcoin’s image may be improving as well, especially with the reduction in price volatility. Investors are benefiting from the lack of volatility and digital tender is becoming more of a possibility.
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