In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$102,930.00
4.96%$2,201.64
20.41%$2.31
7.65%$624.88
3.72%$163.14
9.60%$0.999909
-0.01%$0.195888
12.06%$0.77218
12.93%$0.257221
3.35%$2,200.63
20.36%$4.00
16.44%$102,807.00
4.72%$15.83
12.05%$22.36
12.77%$0.294522
11.60%$2,635.75
20.19%$0.00001439
11.38%$418.35
3.95%$0.195402
10.09%$8.86
0.69%$0.999923
0.01%$3.20
5.96%$23.20
11.01%$95.21
4.31%$4.51
11.11%$2,206.02
20.55%$300.54
6.38%$4.52
6.02%$0.999913
-0.05%$2,342.50
20.30%$0.673524
9.39%$102,989.00
4.84%$0.999818
-0.09%$0.00001098
31.49%$30.33
6.16%$424.46
12.05%$6.19
25.17%$5.56
14.19%$2.78
19.10%$52.67
3.25%$1.051
-0.01%$0.984661
10.57%$205.06
17.55%$1.00
0.00%$0.099299
6.60%$18.51
11.85%$5.25
11.57%$13.50
21.44%$21.83
2.60%$32.83
10.48%$0.099044
7.41%$0.756609
5.76%$0.02874847
14.23%$4.75
10.25%$0.250269
13.59%$1.001
-0.01%$102,391.00
5.26%$4.59
9.32%$1.17
0.14%$0.774316
10.83%$0.342588
25.46%$2.95
11.65%$0.226597
11.88%$4.35
0.38%$0.572741
10.94%$0.363933
15.26%$2.73
11.02%$4.39
6.16%$0.00002027
17.77%$1.00
0.15%$1.084
14.59%$0.975402
5.79%$1,710.28
11.22%$0.483868
11.10%$95.33
3.07%$11.07
2.55%$171.52
9.65%$2.04
47.74%$2,204.15
20.38%$4.89
26.38%$0.854264
3.82%$0.01978934
2.34%$1.26
0.68%$2,296.43
20.52%$1.23
19.45%$0.076883
5.65%$0.232797
14.72%$0.700948
16.43%$102,878.00
4.95%$0.627622
15.15%$11.23
16.05%$0.998814
-0.13%$205,891.00
112.14%$2,489.42
20.06%$0.758312
9.74%$0.104187
10.98%$1.00
0.01%$0.00009309
20.04%$625.49
3.76%$0.01415008
22.00%$0.999699
0.01%$0.967574
20.68%$210.43
9.58%$0.01761617
10.92%$0.847179
13.60%$14.77
2.00%$180.75
9.58%$2,339.21
20.04%$103,124.00
5.22%$2.82
12.36%$3,292.15
-3.47%$0.0181821
17.22%$40.33
5.82%$0.793644
11.69%$102,276.00
5.05%$102,034.00
3.96%$0.627729
11.25%$0.999818
-0.02%$0.319232
14.55%$3,293.42
-3.49%$0.232273
11.17%$0.00000076
6.45%$0.073875
35.69%$2.28
9.84%$3.99
10.18%$21.87
19.68%$0.708052
21.39%$0.119976
6.83%$2,307.02
20.50%$41.61
2.74%$0.414802
10.10%$0.997647
-0.03%$1.92
13.11%$0.998525
-0.04%$0.597561
8.87%$0.33341
9.20%$0.01837747
11.00%$2,272.63
18.76%$0.735163
17.10%$0.641864
23.34%$1.11
1.65%$3.64
13.20%$0.01031009
22.63%$0.154017
11.18%$19.68
26.01%$0.00589169
6.06%$0.456928
16.97%$110.98
0.01%$7.96
14.17%$102,943.00
4.96%$0.473302
7.62%$2.03
27.36%$0.201587
20.56%$0.195928
11.99%$0.64489
12.51%$0.998368
-0.10%$102,956.00
4.97%$1.39
8.22%$0.999905
-0.01%$2,204.87
20.39%$0.152106
15.74%$2,337.73
19.93%$0.482043
6.24%$0.587779
17.87%$2,205.32
20.47%$0.065249
-0.83%$0.00002332
7.18%$99,598.00
3.52%$0.999904
-0.01%$2,195.64
20.28%$0.00865099
9.98%$2,262.92
23.04%$6.37
10.67%$3.77
21.56%$2.76
13.77%$1.60
6.51%$0.085885
16.01%$0.172793
9.11%$0.00000043
3.95%$0.04488624
12.39%$0.093068
13.86%$0.15662
5.69%$0.00591388
9.79%$0.250195
13.62%$1.086
0.02%$1.002
0.12%$2,205.90
20.50%$44.14
10.65%$0.00000101
12.54%$1.49
13.35%$0.595278
18.68%$0.406199
8.31%$33.27
1.09%$0.376779
4.88%$0.03672192
6.14%$0.00429966
7.68%$0.326431
24.33%$0.01862209
3.93%$0.178532
5.90%$0.998394
-0.40%$21.52
0.48%$2,184.41
20.23%$0.776382
15.21%$0.350847
17.39%$0.999999
-0.07%$0.00006393
6.76%$0.830289
7.19%$0.724004
3.78%$102,896.00
4.92%$0.999166
-0.24%$124.34
12.76%$0.00322447
9.42%$1.33
-6.97%$22.38
12.69%$0.999735
-0.21%$2,326.83
20.25%$0.999793
-0.06%$2.76
10.53%$1.11
40.99%$0.528462
-8.28%$101,857.00
4.09%$0.220167
14.22%$0.247831
9.33%$0.00000148
1.58%$0.00335945
17.23%$2,416.83
20.23%$1.099
-0.00%$23.20
10.55%$0.03487631
8.02%$2,400.65
20.42%$0.999919
-0.05%$23.40
7.48%$17.24
15.22%$0.566313
7.06%$3,332.31
-0.98%$3.41
7.90%$0.278105
8.16%$2,203.12
20.36%$2,370.51
20.12%$3.37
19.89%$23.19
10.57%$0.00360659
12.66%$2,066.87
4.74%$0.03848917
8.06%$0.01356431
11.66%$2,182.33
20.06%$2.78
4.71%$103,465.00
5.81%As the Bitcoin rally slows down, investor attention is turning again to the US stock market, buoyed by a series of political and economic developments.
After a bullish recovery from a fall of more than $1,200 in late July, Bitcoin plateaued in August. The cryptocurrency failed to break the psychological barrier of $12,000 during the month, mostly remaining in a relatively stable band between $11,200 and $11,700.
Taking into account today’s last-minute numbers, Bitcoin’s dollar value appreciated by about 3% in August. It ended July at above $11,300 and currently sits just shy of $11,700. However, these numbers don't compare to the performance of US stocks, which have managed to outperform hedge assets such as Bitcoin in terms of profitability.
The S&P 500 was up 7% in August, capping a gain of 35% over the last five months.
The market’s growth over the past few months has been surprising, considering that the world is still mired in the same coronavirus crisis that caused the markets to fall in March 2020. There is no cure for COVID-19, many industries cannot return to work as normal, and trading is still restricted.
Try telling that to the stock market.
The stock market has managed to fully recover from the fall, perhaps due to the US government's efforts to save the markets through the massive printing of money, which has allowed some companies to remain solvent.
Following the printing of $586 billion in March, the Federal Reserve doubled down last week by stating that it would allow inflation over its previous target of 2%.
“Stocks are overvalued by every traditional metric, and the money on the sidelines will look for worthy investment venues,” Cornell University Professor Emin Gün Sirer told Decrypt.
That was back in June. It’s now coming to the end of August and stocks have only gone higher.
But suppose that stocks truly are overvalued. In that case, Bitcoin could prove to be a better store of value.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.