Bitcoin Is Benefiting From Crypto’s Flight to Quality: Matrixport
Matrixport has released a report suggesting Bitcoin is benefitting from instability in the financial system and a regulatory overhang that has hit stablecoins. The report also said investors are shifting into Bitcoin from stablecoins and more volatile cryptocurrencies, which are viewed as riskier in the current economic climate. Markus Thielen, head of research at Matrixport, said that “as those three trends persist, bitcoin prices can stay high and continue to rally.” The report also highlighted the potential classification of some digital assets as securities has become an overhang for many cryptocurrencies.
Bitcoin Is Benefiting From Crypto’s Flight to Quality: Matrixport (coindesk.com)
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