Why Bitcoin’s Big Rally Is a Sign of Its Resilience

Economic growth figures are starting to trickle in, and, as expected, they’re bad. Really bad. This past week the U.S. reported Q1 GDP growth as -4.8%. Italy’s GDP fell -4.5%, Spain came in at -5.2%, and France trumped that with a whopping -5.8%.  And that’s just warming up – Christine Lagarde, head of the ECB, has warned that euro-area GDP could fall by as much as 15% in Q2. 

And yet stock markets in the U.S. and Europe closed up on the week, in spite of the inevitability that the next quarter will be worse still.

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This could be partly due to the concentration of market capitalization – nearly 25% of the S&P 500 market capitalization…