Despite the volatile price action of Bitcoin (BTC), the world’s largest cryptocurrency has outperformed every other asset, including gold. Although it is trading below its psychological milestone of $30,000 at $29,000, Bitcoin is expected to grow further in 2023, as it acts as a safe haven for investors amidst the US banking crisis.
Bitcoin Reigns Supreme As the Best-Performing Asset
Capriole Investment, which provides research and analysis on cryptocurrencies, has reported that the current market cycle favors hard assets like gold, as indicated by the 200-week Gold-to-Stocks ratio. This classic indicator highlights when the market favors safe-haven assets like gold over riskier equity assets. Both gold and Bitcoin have generated some of their best returns during these phases.
As the market continues to favor hard assets, Bitcoin has emerged as the preferred safe haven for wealth amidst the US banking crisis and fiat currency weakness. During this period of high correlation, Bitcoi
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