🚀 🔥 Digital Assets Continue to Outperform Equities in 2024, Says Canaccord Report 🔥
#DigitalAssets #Bitcoin #Ethereum #Equities #Canaccord #InterestRateCut #Stablecoin #ETFs #MarketGrowth #PostHalvingTrend #BTC
According to CoinDesk: Digital assets have continued to outperform traditional equities this year, with Bitcoin (BTC) leading the surge, according to a quarterly report from broker Canaccord. Bitcoin closed the last quarter up around 140% year-on-year, outperforming Ethereum (ETH), which rose approximately 60%, and the S&P 500, which gained almost 30% during the same period.Canaccord noted that the Federal Reserve's recent 50 basis point interest rate cut has positively impacted both equities and digital assets. Despite the declining need for an inflation hedge, Bitcoin still behaves like other risk assets, benefiting from the "lower-rate environment" with a current correlation of 0.4 to other risk assets.If Bitcoin follows its historical post-halving trend, a significant rally could begin between now and April 2025, with new highs expected 2-6 months after the halving. The report also indicated that stablecoin supply grew by 7% in the third quarter, highlighting increasing activity in the digital asset sector. Canaccord expects the positive market dynamics, combined with upcoming exchange-traded funds (ETFs), to support further growth in digital assets.#DigitalAssets #Bitcoin #Ethereum #Equities #Canaccord #InterestRateCut #Stablecoin #ETFs #MarketGrowth #PostHalvingTrend #BTC