Bitcoin (BTC) is affected by external factors it can't control, but they show that the world's number one crypto is a growth stock, according to the October 2020 report by provider of crypto-asset data ByteTree in collaboration with crypto exchange Bitstamp.
While many like to believe that asset prices "have a mind of their own," wrote Charlie Morris, ByteTree Co-Founder and Chief Investment Officer (CIO), the truth is that they have "close links to external factors" outside of their control. Therefore, the report looked at six of these factors: central banks, the US dollar, global equities, social media stocks, real interest rates, and gold.
Morris argued that,
"There’s an old saying that if it quacks like a duck, it’s a duck. Bitcoin quacks like a growth stock."
Therefore, in respect to the six, above-mentioned factors, the CIO made the following conclusions:
https://cryptonews.com/news/bitcoin-quacks-like-a-growth-stock-7950.htm
