Can cryptos be an asset class?

Divided opinion: A representation of the virtual currency Bitcoin is seen in this illustration. Some economists argue that Bitcoin fails as a hedge against inflation, as its price behaviour is more correlated with the equity market than anything else. — Reuters

THE year 2020 is turning out to be one hell of a ride for investors as we have seen the volatility in equity markets, turning from a bull market to a bear market in a matter of days, and within another short space of time, returning to the bull phase, as easy monetary policies across the world sent markets soaring.

If every index point on the Dow Jones is translated into a measurement of height, the Dow has now surpassed the Mount Everest while other asset classes too saw significant rallies, be it in the commodity space, the bond market and even selected currencies.