Bitcoin (BTC) is affected by external factors it can't control, but they show that the world's number one crypto is a growth stock, according to the October 2020 report by provider of crypto-asset data ByteTree in collaboration with crypto exchange Bitstamp.
While many like to believe that asset prices "have a mind of their own," wrote Charlie Morris, ByteTree Co-Founder and Chief Investment Officer (CIO), the truth is that they have "close links to external factors" outside of their control. Therefore, the report looked at six of these factors: central banks, the US dollar, global equities, social media stocks, real interest rates, and gold.