08.05.2020 BTC Daily Analysis

08.05.2020 BTC Daily Analysis

Billionaire investor Paul Tudor Jones made a prescient call on bullion in 2019; now he’s saying that bitcoin, the controversial digital currency, reminds him of gold in the 1970s, and may be the best hedge against inflation in the age of coronavirus. The digital asset BTC has made headlines today, as the price per unit has once again crossed the $10K zone. After dropping to $3,600 per BTC on March 12, otherwise known as ‘Black Thursday’ the price has since gained over 177%. There is no asset (besides a few other cryptocurrencies), stock, commodity, or precious metal that has experienced a sizable gain such as BTC’s recent run-up. The price gives the crypto asset a $184 billion market valuation, and there’s around $15 billion worth of global trade volume today.