Posted 10/20/2023, 5:13:00 PM
Bitcoin Soars as Stocks and Bonds Struggle
- Bitcoin has soared more than 9% amid recent stock market drops and rising bond yields.
- The S&P 500 has dropped 1.7% in the last week amid Middle East tensions.
- The 10-year Treasury yield is near 5%, a level not seen since 2007, causing the bond index to fall 1.3%.
- Cryptocurrencies look like a haven for investors again compared to struggling stocks and bonds.
- Don't be fooled - Bitcoin remains highly volatile and speculative despite recent gains.
