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UNBELIEVABLE: THIS ASSET IS THE BEST-PERFORMING CRYPTOCURRENCY IN THE BEARISH Q3

 


Bitcoin one of the worst investments

Looking at annual returns and not just Q3 paints a different picture. Bitcoin is in free fall and has lost more than half of its value so far - significantly less than some other major asset classes.


As the market has become extremely risk averse, returns have generally been in line with what is expected in so-called bear markets. That is, the further out on the risk spectrum, the further assets have fallen.


This is bad news for cryptocurrencies and is the reason Bitcoin has performed so poorly. It also explains why almost all other cryptocurrencies have fallen further than Bitcoin.


The S&P is down about 25%, which is roughly half that of Bitcoin. I would have actually expected more.


The Nasdaq is further off the risk curve as it is more biased towards the broader tech industry and is down almost 30%.


Bitcoin the best performing asset in an ugly Q3

The dollar is the best form of investment

In times of crisis like this, investors flee to safe havens - a testament to this is the fact that the US dollar has been incredibly strong so far this year, dominating almost every currency around the world so far.


After all, there is nothing more secure than the US dollar. In addition, so much of the world's debt is denominated in US dollars, which means that debtors are only clamoring to get dollars.

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