David Duong, head of institutional research at Coinbase, highlights Bitcoin's importance amidst economic changes and risks.
Bitcoin as 'Ultimate Macro Asset'
According to David Duong, Bitcoin is emerging as the 'ultimate macro asset' in the face of trade wars and regulatory uncertainty. He stated, 'Bitcoin is emerging as the ultimate macro asset in a world of trade wars, regulatory uncertainty, and heightened inflation risk.'
Institutional Investors' Focus on Risk Management
Bitcoin's price decline mirrors broader market uncertainties. Institutional investors are adopting a defensive posture, focusing on risk management amid predicted bearish trends. Heightened volatility ties back to changes in regulatory environments and U.S. policies.
200-Day Moving Average as Bitcoin's Market Indicator
Historical market movements analyzed through traditional metrics like the 200-Day Moving Average indicate crucial turning points for Bitcoin's market direction. Bitcoin is expected to continue influencing broader market sentiment.
Thus, according to David Duong, Bitcoin remains a significant asset for institutional investors in the context of current economic instability.
