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RE: Global stocks see biggest loss of investor cash since the financial crisis
That's the million dollar question. The crypto space and the DOW were correlated until recent weeks. Bitcoin was created due to mistrust on Wall Street. Cryptocurrencies is an alternative currency to fiat. Logically, when the Markets crash, we should see money pour into Cryptos.
No, crypto is seen and used as a risk asset by the majority, which means when exposure to other risk assets like equities reduces then we can reasonably expect the same for crypto. Until it's viewed as a safe haven by the majority of traders, in which case then yes we could expect inflows like there are into bonds and cash when volatility increases.
Why is crypto seen as a risk asset, if Bitcoin is considered digital gold?
That is just what some tried to rebrand it as and call it, that does not mean the majority of investors believe it to be true.
The volatility makes it appear to them as high risk. Bitcoin went from over $19,,000 to $5,800 in six months. Not exactly something to give confidence to investors already skittish in the equities market. HODL everybody. Our time is coming.
Yeah!!! HODL!!
It will come!