The cryptocurrency market is showing remarkable resilience.
Since the CPI data was released:
Gold is down 1.6%.
Silver is down 3.4%.
The Nasdaq is down 0.72%.
But Bitcoin is down just 1.5%—almost on par with gold in percentage terms.
Now compare their market caps. Gold's market cap is about $28.7 trillion, silver's is about $3.2 trillion, while Bitcoin's is only about $1.7 trillion.
Bitcoin's market cap is just 1/17 that of gold and 1/2 that of silver, yet it has held up better than both gold and silver.
Since the CPI data was released:
Gold is down 1.6%.
Silver is down 3.4%.
The Nasdaq is down 0.72%.
But Bitcoin is down just 1.5%—almost on par with gold in percentage terms.
Now compare their market caps. Gold's market cap is about $28.7 trillion, silver's is about $3.2 trillion, while Bitcoin's is only about $1.7 trillion.
Bitcoin's market cap is just 1/17 that of gold and 1/2 that of silver, yet it has held up better than both gold and silver.