The Block16 minutes ago

Published on February 23, 2024 22:42 GMT+00:00edited on February 23, 2024 22:44 GMT+00:00

Bitcoin is emerging as an attractive choice for portfolio diversification in a macroeconomic climate were inflation remains persistent, analysts said.

Bitfnex Head of Derivatives Jag Kooner said that a variety of macroeconomic headwinds in 2024 could enhance the safe-haven status of assets like bitcoin, gold and silver. "Persistent inflation levels, remaining above the comfort zones of central banks around the world, are anticipated to result in a prolonged period of higher interest rates. This scenario is likely to temper current market expectations for an early easing of monetary policies in developed markets, which may lead to some disappointment among investors," he added.

In an email sent to The Block, Kooner outlined various headwinds that could frustrate market growth in the year …