Price analysis 10/8: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI By Cointelegraph – Investing.com
- Date: 11-Oct-2021
- Source: Investing.com
- Sector:Technology
- Country:Middle East
Price analysis 10/8: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI By Cointelegraph – Investing.com
Bitcoin’s (BTC) rally above $50,000 seems to have received a boost from institutional buyers who are looking to hedge their portfolio against increasing inflation, said JPMorgan (NYSE:) in a note to its clients on Oct. 7. The bank’s analysts speculated that institutional investors may be preferring over gold as a better hedge against inflation.
A recent study titled “Cryptocurrencies and the Sharpe Ratio of Traditional Investment Models” by crypto asset management firms Iconic Funds and Cryptology Asset Group showed that the addition of cryptocurrencies to any portfolio improved returns and risk-reward performance of the portfolio.
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