Cointelegraph: “Bitcoin Is a Geopolitical Turmoil Indicator, Says Market Researcher”

By admin_45 in IN THE NEWS

Excerpt from Cointelegraph quoting DataTrek's Nick Colas:

.... "Co-founder of market research firm DataTrek Research Nicholas Colas says that Bitcoin (BTC) is a geopolitical turmoil indicator.

Bitcoin as a market indicator

.... "In an interview with CNBC published on Aug. 14, Colas claimed that Bitcoin was one of the few assets of which the price predicted Hong Kong’s protests and the consequent local capital flight. 

When the interviewer asked him whether he believes that Bitcoin is a safe haven asset, he said:

“We are definitely seeing that, and really are perked up around the Hong Kong protests and some of the currency flight that happened out of Hong Kong and the mainland, and Bitcoin was one of the few assets that we watched that actually predicted that uncertainty ahead of time. Nothing else was really moving, Bitcoin was"....

Read the full article here on Cointelegraph!