January 15, 2021
Among the long list of issues facing Bitcoin and other cryptocurrencies is adoption. When will crypto become more widely accepted for mainstream activities?
For HODLers and crypto fans alike, the good news is the adoption trajectory for Bitcoin looks compelling. Looking at the S-curve, which measures adoption of new technologies, Bitcoin is right where it should be according to many market observers.
“The S-Curve breaks global adoption into stages along the growth cycle: Innovators, Early Adopters, Early Majority, Late Majority, and Laggards,” writes Greg King of Osprey Funds. “Most of the growth occurs during the Early and Late Majority stages. Bitcoin is 12 years young and it is much earlier along this curve than gold which has been a Laggard for millenia.”
Meanwhile, Comex copper futures are now trading around $3.65 per pound.
While copper prices slipped Friday along with other commodities, the most actively traded copper futures are still 2% higher so far in 2021 and near their highest level since early 2013, the Wall Street Journal reports.
Copper markets have strengthened on strong demand from China and bets that the improving global economy will support consumption of raw materials later this year.
Copper is among the necessary components of construction and is used to build everything from computers to houses. Consequently, the base metal is highly sensitive to shifts in the global economy and the Chinese economy, which makes up the lion’s share of demand – China is the world’s largest commodity consumer and makes up about half of global demand for copper and other metals.
January 15, 2021
Many advisors have asked us our view on what broad market US equity theme they should favor in the near term for their client portfolios. On a relative basis, we believe our
Cyclicals Portfolio (which has a lot of value-oriented companies within financial, material, energy, and industrial spaces) is uniquely positioned (relative to our other solutions) as the economy
continues to normalize in 2021.
In the report below, we backtested Astoria’s Cyclicals Portfolio (description included below) versus the SPDR® S&P 500® ETF Trust (SPY). The key observation in the 13-year backtest is that Cyclicals outperformed SPY in the following years: