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Matrixport: Bitcoin often performs well in U.S. election years, still using Ethereum as a hedging tool

Matrixport: Bitcoin often performs well in U.S. election years, still using Ethereum as a hedging tool

2024/03/22 02:44

TechFlow news from DeepTide, Matrixport released a new report stating that Bitcoin remains the preferred investment, and public media has begun to promote Bitcoin as digital gold.

The report points out that Bitcoin often performs exceptionally well in U.S. election years. Despite the growth of the U.S. economy and a strong labor market, central banks may cut interest rates, which naturally will be reflected in stock price increases. They continue to be bullish on Bitcoin and use Ethereum as a hedging tool.

In previous news, Matrixport stated that Ethereum's upward momentum is weakening and suggested it should be used to hedge against long positions in Bitcoin.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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