Cryptocurrencies Continue to Outperform the Stock Market: Canaccord

Canaccord said bitcoin's dominance should decline given the lesser need for an inflation hedge, but it still performs like other risk assets for now.

The broker noted that the world's largest cryptocurrency finished the last quarter up around 140% year-on-year , outperforming etherIf bitcoin follows historical patterns it tends to rally 6-12 months following the "We think the most healthy reaction for crypto's long-term future in a scenario like this would be a decline in BTC," the report said, given the lesser need for an inflation hedge, and a rise in ether and other digital assets alongside risk equities, as"investors become more willing to underwrite longer-term growth and innovation."

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