Currently, around $6,400, Bitcoin is maintaining stability while beating the stock market in continuation of last month. Though Gold surged as global markets got hit in October, this month is seeing a drop in its prices, for now, Bitcoin is yet again going steady with a few oscillations. What chance does it have now?


Bitcoin Outperforming Stock Market


Bitcoin might be down about 68 percent at the moment at $6,414 registering 24-hours gains of 0.04 percent. Ethereum (ETH) and XRP are also in the green by a small margin. The world-rsquo;s leading cryptocurrency is managing the daily trading volume of $4 billion with a market cap of $111 billion.


If we take a look at the past 2 months, Bitcoin has oscillated between $6,200 and $6,900. What has been characterized as a highly volatile market has been recording the lowest volatility for the past 18 months now.


Price


A number of positive news have made it to the market such as Nasdaq-rsquo;s parent company ICE announcing the launch of Bakkt, Fidelity investment coming up with its own digital asset company, Universities like Yale investing in crypto market along with a number of other bullish news that failed to make an impact on the price of cryptocurrencies.


However, despite little movement in Bitcoin prices, it has outperformed the stock market. Today, from Europe to Asia, stocks are yet again on the decline. And with US central bank suggests plans to increase the interest rates, global stocks are taking a hit.


Last month has been a pretty bad one for the global stock market. October saw Bitcoin sliding about 3.67 percent. The price, however, moved around $6,500 only. As Bitcoin dropped down, altcoins fall harder, hence the crypto market as a whole saw a bigger rout of about 8.39 percent.


Meanwhile, the S-amp;P 500 Index lost 7.28 percent of its value. Oil prices are also pushing into bear territory as with a negative growth, crude oil WTI saw red by 13.27 percent. But the US 10 year bond market surged by 2.24 percent.


The US and China trade war has been one of the reasons that fueled the stock market drop. But the primary reason has been attributed to the long-running success of the stock market that is imminent to stop and crash as the economy and the market can-rsquo;t handle it anymore.


If we take a look at Gold, the hedge against these adversaries, it has been predicted to rise as the traditional market registers rough times and it did. The price of the yellow metal went from $1,189 to about $1220 by the end of last month.


What are the chances?


However, unlike the first time when the stock market crashed and bitcoin prices also slumped, the next time Bitcoin did manage to hold its greens. Though Bitcoin didn-rsquo;t manage to rise during the onslaught on the traditional market as gold did, Bitcoin maintaining stability is a positive sign.


After ending the October on a surge, Gold has been somewhat on a constant decline during November, till now at $1,209. The stronger dollar is affecting gold prices as well. Bitcoin, however, is trying to maintain a straight line.


Bitcoin Price


Moreover, experts like Morgan Stanley and Goldman Sachs have warned off a coming market collapse triggered by rising interest rates and slowed growth. Even International Monetary Fund (IMF) has issued a warning that this collapse will be far worse than 2008-rsquo;s financial crisis.


With only a decade to its name, Bitcoin is relatively new to the market. And its low liquidity along with interest from institutional investors while the traditional stock market collapse predicted to be impending, it can-rsquo;t be told if Bitcoin will be able to emerge as a winner but it can surely make its presence known.


The post Bitcoin Beating Stock Market, Continuing the Victory from Last Month appeared first on Coingape.




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