2020 was great for bitcoin but experts are wary of a correction
Bitcoin is now being perceived as an inflation-hedge and an asset with a potential to give mouth-watering returns quickly
It has almost quadrupled in value this year, outperforming safe havens gold and the US dollar
Bitcoin has ended 2020 with a bang. Extending its recent run-away rally, the digital currency breached $33,000 for the first time ever on Friday. Unlike in the past, bitcoin has now caught the fancy of institutional investors and is gaining acceptance as a futuristic store of value. Global fund manager survey by BofA Securities showed “long bitcoin" was the third most crowded trade in December, beating gold and corporate bonds.
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