International news agency Bloomberg has issued a report called "Bitcoin Maturation Leap" in which reviewed the position of bitcoin (EXANTE: Bitcoin) in the cryptocurrency market.
According to the report, the stock market's volatility triggered by the coronavirus pandemic outrage affected the price of bitcoin and the whole crypto market.
"This year marks a key test for Bitcoin's transition toward a quasi-currency like gold, and we expect it to pass," Bloomberg said in the report.
Even though bitcoin lost approximately 28% in March, it lost only 6% on an annualized basis.
The agency says the increase of open interest in futures, declining volatility and relative out performance despite the stock-market shakeout indicates bitcoin "is maturing from a speculative crypto asset toward a digital version of gold."
On a one-year basis, BTC is up about 40% vs. a 15% decline for the S&P 500.
Previously iHodl reported that a bitcoin payment facilitator Purse.io announced its decision to shut down after 6 years of operation.
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