Cryptocurrency markets will be driven by geopolitics and macroeconomics following the Bitcoin (BTC) halving, Coinbase said.

Cryptocurrencies have largely been viewed as a “risk” to the asset class, but Coinbase believes “Bitcoin’s continued resilience and approval The pool of investors in cash exchange-traded funds (ETFs) (particularly Bitcoin) has created a pool of investors who view Bitcoin as a purely speculative asset and another pool of investors who treat Bitcoin as ‘digital gold’ and hedge against geopolitical risk. ”