{"id":17017,"date":"2020-10-28T07:18:45","date_gmt":"2020-10-28T06:18:45","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17017\/"},"modified":"2020-10-28T07:18:45","modified_gmt":"2020-10-28T06:18:45","slug":"a-new-look-at-bitcoin","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/a-new-look-at-bitcoin\/","title":{"rendered":"A new look at Bitcoin"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 1908,995<br \/>\n(<span style=\"color: #008000;\">+0,23%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1782<br \/>\n(<span style=\"color: #008000;\">+0,02%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 27235,50<br \/>\n(<span style=\"color: #008000;\">+0,18%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 38,80<br \/>\n(<span style=\"color: #008000;\">+0,31%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a011943,13<br \/>\n(<span style=\"color: #008000;\">+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">Over the course of the year, we have already commented on Bitcoin in detail several times. We explained what exactly is the basis for its both short-term and long-term growth. Especially with the beginning of the fourth quarter, another important factor was added, which has so far received little attention.<\/p>\n<p style=\"text-align: center;\"><strong>BTC<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-17018 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/10\/BTC-1.png\" alt=\"BTC\" width=\"600\" height=\"220\" \/><\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nFunds are moving towards long-term purchases<\/strong><\/p>\n<p align=\"justify\">In 2020, dozens of investment and venture funds bought Bitcoin for the first time. So far, this has not led to huge changes in the market. However, these purchases have in any case led to an increase in the price of the first crypt currency.<br \/>\nThe main bomb is as follows. By 2020, the funds that have invested in bitcoin will show a return on this instrument of 50%-200%, depending on the entry point. Their investors will be very satisfied with the managers.<br \/>\nNow let us imagine what investors in thousands of other, more conservative funds will do. They are watching bitcoin grow, about 70%-80% for the second year in a row. And at the end of this year, a lot of investors will ask their managers a question. And why don&#8217;t you invest in BTC? After all, there are funds that do this and these funds show huge returns for their investors.<br \/>\nIf the manager says &#8220;we will not invest in BTC in 2021&#8221;, some investors will simply shrug their shoulders. They will then take the money from this fund and give it to another fund that invests in Bitcoin.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat should a manager do?<\/strong><\/p>\n<p align=\"justify\">On the one hand, nobody forbids them to buy &#8220;a lot of Bitcoin&#8221; in 2021. But there is always the risk that this particular year will be bad for the first cryptocurrency. In this case, investors will again be extremely angry at the management of the fund.<br \/>\nThat is why there is a solution that allows you to invest in BTC on the one hand. On the other hand, it is possible to bear extremely low risks. This is called the &#8220;1% rule&#8221;. If the fund&#8217;s assets are 5 billion dollars, then BTC will be bought for 50 million dollars (1%). Even if the bitcoin drops by half next year, the total assets of the fund will only drop by 0.5%. But if Bitcoin grows again, management, at the annual report to investors, will be sure to note that &#8220;our fund is extremely progressive, it invests in bitcoin and gets higher returns on this instrument&#8221;.<br \/>\nPerhaps 2021 will be the last year when some funds will not buy BTC as a matter of principle. In 2022, they will simply withdraw most of the money from such funds. What is 1% for funds? It is an amount of about $1 trillion, which is 4 times the current capitalisation of the first cryptocurrency.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat awaits us today?<\/strong><\/p>\n<p align=\"justify\">01.30 Consumer price index in Australia for Q3<br \/>\n15.00 Bank of Canada interest rate decision<br \/>\n16.15 Press conference of the Bank of Canada<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u00a0 1908,995 (+0,23%) EURUSD\u00a0 \u00a01,1782 (+0,02%) DJIA\u00a0 27235,50 (+0,18%) OIL.WTI\u00a0 38,80 (+0,31%) DAX\u00a0 \u00a011943,13 (+0,01%) Over the course of the year, we have already commented on Bitcoin in detail several&#8230;<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A new look at Bitcoin | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Over the course of the year, we have already commented 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