Bernstein: Returns From Buying Crypto During Downturns Have Been Spectacular

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Before the turmoil of 2022, the digital-assets market had witnessed two crypto winters, and the returns from buying into such periods of market stress have been spectacular, brokerage firm Bernstein said in a research report Monday. Bernstein notes that despite bitcoin’s (BTC) slump last year, the largest cryptocurrency is up about 60 times from its 2014 low and roughly five times from its 2018 bottom. Ether (ETH) is up 14 times from its 2018 lows, despite a 68% slide last year. The crypto industry has a strong track record of fighting back from its lows and “taking punches when down,” the report said. Still, some may argue that the macro backdrop is different this time, the report added.
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