Odaily Planet Daily News data show that in terms of market value, Bitcoin has risen nearly 72% this year to $28,500, the largest quarterly increase in two years, bringing its market value to $542 billion. Ethereum is on track for a quarterly gain of 50%. Elsewhere, gold prices rose more than 7%, while Wall Street's tech-heavy Nasdaq rose 15%.
Speculation that central banks, led by the Federal Reserve, will forgo aggressive rate hikes in response to recession signals has largely fueled the rally.
Martin Leinweber, digital asset product strategist at MarketVector Indexes, said: "This is all related to the expectation that central banks, especially the Federal Reserve, will take new easing measures. Among all risk assets, Bitcoin is the most sensitive to Liquidity fluctuations. "
Assets with good monetary appeal, such as bitcoin and gold, are benefiting from Liquidity injections, said David Foley, managing partner of the Bitcoin Opportunity Fund. (CoinDesk)
Speculation that central banks, led by the Federal Reserve, will forgo aggressive rate hikes in response to recession signals has largely fueled the rally.
Martin Leinweber, digital asset product strategist at MarketVector Indexes, said: "This is all related to the expectation that central banks, especially the Federal Reserve, will take new easing measures. Among all risk assets, Bitcoin is the most sensitive to Liquidity fluctuations. "
Assets with good monetary appeal, such as bitcoin and gold, are benefiting from Liquidity injections, said David Foley, managing partner of the Bitcoin Opportunity Fund. (CoinDesk)
