Monday, March 8, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Bitcoin Is More Profitable to Invest Into than Bank Stocks

10 months ago
in stock
2 min read
Bitcoin Is More Profitable to Invest Into than Bank Stocks
Share on FacebookShare on Twitter


Bitcoin price rose more than 36% since the year’s beginning while the shares of banking giants have experienced huge fallings.

Bitcoin seems to be more money-making than some of the world’s biggest bank stocks, even though the harsh fall struck the first cryptocurrency in the middle of March.

Ryan Selkis from the cryptocurrency research company Messari tweeted:

The "Pomp trade" having an epic year.

“Long bitcoin, short the bankers”

cc: @APompliano pic.twitter.com/YlCSLkT2pf

— Ryan Selkis (@twobitidiot) May 18, 2020

Just for comparison, Bitcoin’s price rose more than 36% since the year’s beginning, and the shares of banking giants experienced huge fallings. For example, the shares of JPMorgan Chase & Co (NYSE: JMP) are 37% cheaper than in January, and Wells Fargo & Co (NYSE: WFC) lost over 55% of its market value.

The selling-off that happened in the banking sector was mainly caused by the effects COVID-19 pandemic had on the economy. The cryptocurrency experts believe that Bitcoin and gold will somehow profit from the crisis as they will serve as safe haven and a certain hedge against inflation.

Will BTC Finally Pass $10K Limit?

At the time of writing, BTC/USD is changing hands at $9,786, up 1.95% on a day-to-day basis. The first digital asset managed to recover from the intraday low of $9,450 and settle above $9,990, however, the upside momentum seems to be limited. We shall see if the price gaining ground above $9,800 will get a chance for another try at $10,000.

On the other hand, we cannot forget the fact that the critical support area is created by 38.2% Fibonacci retracement at $9,300. It is followed by a psychological $9,000. If we take the fact that the downward-looking RSI on the daily chart, we can expect BTC to become vulnerable to losses to come within the current range.

Analysts believe Bitcoin is a special kind of safe haven. Still, when other safe havens tend to show negative interactions with so-called risk assets like stocks or oil or high-yield bonds, Bitcoin favors showing no correlation to anything except other cryptocurrencies. You can read more about BTC in our Bitcoin news section.

Bitcoin and Bank Stocks

Gold in the last few days hitting a seven-year high, bursting through the $1,700-per-ounce mark for the first time since December 2012.

Still, even though traditional investors were always tending to stocks of banks finding them safer, this seems not to be the case. Ask Warren Buffett if you don’t believe it.

The Oracle of Omaha has grown his net worth from around $10,000 to a hearty $70 billion. Even though Buffett has traditionally been a net buyer of equities and a strong believer in the long-term outlook for the U.S. economy, the company’s filings with the Securities and Exchange Commission (SEC) in the few recent quarters have shown plenty of selling activity among Berkshire’s bank stock holdings.

Let us explain this for a bit. Between May 11 and May 12, Berkshire Hathaway disposed of 497,786 shares of U.S. Bancorp (NYSE: USB). Then, in time between April 7 and April 8, Berkshire sold 869,103 shares of Bank of…



Read more:Bitcoin Is More Profitable to Invest Into than Bank Stocks

Related articles

Coinbase Valued at $100 Billion as Its IPO Approaches

March 8, 2021
Bitcoin rises 4.2% to $50,947.94

Bitcoin rises 4.2% to $50,947.94

March 7, 2021
Tags: bankBitcoinbitcoin news todayinvestProfitablestocks

Related Posts

Coinbase Valued at $100 Billion as Its IPO Approaches

by Bitcoin Market
March 8, 2021
0

Coinbase, one of the dominant cryptocurrency exchanges, is nearing its debut as a public company with a valuation pegged...

Bitcoin rises 4.2% to $50,947.94

Bitcoin rises 4.2% to $50,947.94

by Bitcoin Market
March 7, 2021
0

InvestorPlace7 Cryptocurrencies That Robinhood Users Can’t TradeTo many people, Bitcoin (CCC:BTC-USD) is synonymous with cryptocurrency. Bitcoin was the first...

No more ‘Bitcoin effect?’ MicroStrategy stock falls by 50% in 17 days By

No more ‘Bitcoin effect?’ MicroStrategy stock falls by 50% in 17 days By

by Bitcoin Market
March 7, 2021
0

No more ‘Bitcoin effect?’ MicroStrategy stock falls by 50% in 17 days The (BTC) price correction isn’t just hurting...

Bitcoin Miner Cipher Mining Going Public in SPAC Merger | The Motley Fool

Bitcoin Miner Cipher Mining Going Public in SPAC Merger | The Motley Fool

by Bitcoin Market
March 6, 2021
0

Bitcoin (CRYPTO:BTC) is raining from the digital sky, or so it seems given the profusion of cryptocurrency businesses rushing...

Wealth Managers Want Clarity on Bitcoin Rules: Reuters

Wealth Managers Want Clarity on Bitcoin Rules: Reuters

by Bitcoin Market
March 6, 2021
0

Wealth Managers Want Clarity on Bitcoin Rules: Reuters Yahoo Finance Read more:Wealth Managers Want Clarity on Bitcoin Rules:...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
North America’s first bitcoin ETF launches in Canada today

North America’s first bitcoin ETF launches in Canada today

February 18, 2021
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021

Coinbase Valued at $100 Billion as Its IPO Approaches

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0

Coinbase Valued at $100 Billion as Its IPO Approaches

March 8, 2021
Bitcoin: Mother Of All Bubbles, Or Revolutionary Breakthrough

Bitcoin: Mother Of All Bubbles, Or Revolutionary Breakthrough

March 7, 2021
A Debt-Fuelled Economic Crisis & Bitcoin: What to Expect?

A Debt-Fuelled Economic Crisis & Bitcoin: What to Expect?

March 7, 2021
Discount on Grayscale’s GBTC Plunges to New Record Low as Competition From Emerging

Discount on Grayscale’s GBTC Plunges to New Record Low as Competition From Emerging

March 7, 2021
The investing chief of a crypto hedge fund breaks down why he thinks bitcoin will

The investing chief of a crypto hedge fund breaks down why he thinks bitcoin will

March 7, 2021
Bitcoin is not ‘overbought’, may reach $75,000 price before current bull cycle ends,

Bitcoin is not ‘overbought’, may reach $75,000 price before current bull cycle ends,

March 7, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$51,240.004.19%
  • bitcoin-cashBitcoin Cash(BCH)$517.233.13%
  • binance-coinBinance Coin(BNB)$239.875.20%
  • bitcoin-goldBitcoin Gold(BTG)$29.173.55%
  • bitcoin-privateBitcoin Private(BTCP)$0.136-60.67%
  • blocktixBlocktix(TIX)$0.0140.00%