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Is Bitcoin just another large-cap tech stock after all?
- Standard Chartered says Bitcoin is more correlated to Nasdaq than gold.
- Analyst Geoffrey Kendrick explains why that isn't necessarily a bad thing.
- Bitcoin price has recovered more than 10% over the past two weeks.
Bitcoin is often compared to gold and promoted as a hedge against financial risks. However, Standard Chartered analyst Geoffrey Kendrick argues that the world’s largest cryptocurrency behaves more like a large-cap tech stock than the yellow metal. “Bitcoin trading is highly correlated to the Nasdaq over short time horizons,” Kendrick told clients in a recent […]
March 24, 2025
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