Bitcoin and Ethereum are down from their recent 2021 highs, but compared to their traditional market counterparts, have shown more resilience during the recent “royal macro beating.”
Here’s why one top economist and investor says this is incredibly bullish for the two titan cryptocurrency assets.
This week, the stock market plunged, and precious metals saw a sharp selloff as the macro environment remains uneasy globally. Yet somehow, amidst a “royal macro beating”, Ethereum and Bitcoin have held up comparably well.
Economist and trader Alex Kruger says the resiliency is “bullish” for Bitcoin and Ethereum. The two top crypto assets have been in an uptrend for a full year now, and the recent macro jitters have been the first major bump in the road since.
Bitcoin exploded from lows around $4,000 to $58,000 per Coin
‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin, and tens of thousands of dollars per Ether.
The nascent technologies are only now coming into their own as financial assets, and institutional investors have begun to recognize the shift from traditional assets, to digital ones, and the ones who have been early thus far have been the most profitable.
Will Bitcoin and Ethereum continue to hold up this well, or will they ultimately succumb to the continuing macro beating going on across markets right now?
Featured image from Deposit Photos, Charts from TradingView.com