{"id":187843,"date":"2026-08-22T08:22:17","date_gmt":"2026-08-22T08:22:17","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/187843\/"},"modified":"2026-08-22T08:22:17","modified_gmt":"2026-08-22T08:22:17","slug":"blackrock-cena-bitcoinu-muze-rust-spekulativni-kapital-je-z-velke-casti-pryc","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/187843\/","title":{"rendered":"BlackRock: cena bitcoinu m\u016f\u017ee r\u016fst, spekulativn\u00ed kapit\u00e1l je z velk\u00e9 \u010d\u00e1sti pry\u010d"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Bitcoin za\u017eil od sv\u00e9ho historick\u00e9ho maxima v\u00fdraznou korekci. Podle spole\u010dnosti BlackRock v\u0161ak nejde o zm\u011bnu dlouhodob\u00e9ho investi\u010dn\u00edho p\u0159\u00edb\u011bhu bitcoinu. Obrovsk\u00fd propad m\u011bl podle n\u00ed p\u0159edev\u0161\u00edm odstranit nadm\u011brnou spekulaci a p\u00e1kov\u00e9 pozice. <\/p>\n<p class=\"wp-block-paragraph\">Pr\u00e1v\u011b jejich likvidace v\u00fdrazn\u011b zv\u00fd\u0161ila citlivost bitcoinu na v\u00fdvoj ostatn\u00edch rizikov\u00fdch aktiv. BlackRock nyn\u00ed o\u010dek\u00e1v\u00e1, \u017ee se tato vazba m\u016f\u017ee postupn\u011b oslabovat. <a href=\"https:\/\/kryptomagazin.cz\/co-je-bitcoinova-penezenka-ktera-je-ta-nejlepsi\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Bitcoin<\/a> by tak mohl znovu uk\u00e1zat svou dlouhodobou roli diverzifika\u010dn\u00edho aktiva.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1032\" height=\"365\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/btc-70.png\" alt=\"Graf ukazuje dlouhodob\u00fd v\u00fdvoj ceny bitcoinu od roku 2022. Po r\u016fstu o 690 % z cyklick\u00e9ho minima n\u00e1sledoval propad z historick\u00e9ho maxima, kter\u00fd v\u00fdrazn\u011b zm\u011bnil strukturu trhu.\" class=\"wp-image-282582\"  \/><\/p>\n<p>\t\tGraf ukazuje dlouhodob\u00fd v\u00fdvoj ceny bitcoinu od roku 2022. Po r\u016fstu o 690 % z cyklick\u00e9ho minima n\u00e1sledoval propad z historick\u00e9ho maxima, kter\u00fd v\u00fdrazn\u011b zm\u011bnil strukturu trhu. Zdroj: BlackRock<\/p>\n<p>BlackRock: propad z 126 200 USD nezm\u011bnil investi\u010dn\u00ed p\u0159\u00edb\u011bh bitcoinu<\/p>\n<p class=\"wp-block-paragraph\">Bitcoin se po dosa\u017een\u00ed historick\u00e9ho maxima kolem 126 200 USD propadl na cyklick\u00e9m minimu o v\u00edce ne\u017e 50 %. V dob\u011b psan\u00ed \u010dl\u00e1nku se obchoduje kolem 75 000 USD, tedy zhruba 40 % pod maximem. Takov\u00fd pohyb by za b\u011b\u017en\u00fdch okolnost\u00ed mohl vyvolat ot\u00e1zky, zda se dlouhodob\u00fd p\u0159\u00edb\u011bh <a href=\"https:\/\/kryptomagazin.cz\/co-je-kryptomena\/\" rel=\"nofollow noopener\" target=\"_blank\">kryptom\u011bny<\/a> nezm\u011bnil.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"954\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/image-96-scaled.png\" alt=\"Jednodenn\u00ed graf BTC\/USD s aktu\u00e1ln\u00ed cenou v dob\u011b psan\u00ed \u010dl\u00e1nku ve v\u00fd\u0161i 68 306 USD. Zdroj: kryptomagazin.cz\" class=\"wp-image-282642\"  \/>Jednodenn\u00ed graf BTC\/USD s aktu\u00e1ln\u00ed cenou v dob\u011b psan\u00ed \u010dl\u00e1nku ve v\u00fd\u0161i 68 306 USD. Zdroj: <a href=\"https:\/\/terminal.kryptomagazin.cz\/\" rel=\"nofollow noopener\" target=\"_blank\">Kryptomagaz\u00edn termin\u00e1l<\/a><\/p>\n<p class=\"wp-block-paragraph\">BlackRock ale situaci vid\u00ed jinak. Podle jeho nov\u00e9 anal\u00fdzy \u0161lo p\u0159edev\u0161\u00edm o korekci pozic, nikoliv o z\u00e1sadn\u00ed zhor\u0161en\u00ed investi\u010dn\u00edho p\u0159\u00edpadu bitcoinu.<\/p>\n<p class=\"wp-block-paragraph\">Trh byl p\u0159ed propadem v\u00fdrazn\u011b zat\u00ed\u017een\u00fd spekulacemi a vysokou p\u00e1kou. Otev\u0159en\u00e9 pozice na bitcoinov\u00fdch deriv\u00e1tech se na za\u010d\u00e1tku \u0159\u00edjna dostaly nad 90 miliard USD.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1016\" height=\"683\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/etf-10.png\" alt=\"Tabulka zachycuje denn\u00ed \u010dist\u00e9 toky do americk\u00fdch spotov\u00fdch Bitcoin ETF v pr\u016fb\u011bhu srpna 2026. Po v\u00fdrazn\u00fdch odlivech v prvn\u00ed polovin\u011b m\u011bs\u00edce se institucion\u00e1ln\u00ed popt\u00e1vka v posledn\u00edch dnech v\u00fdrazn\u011b zlep\u0161ila. 17. srpna p\u0159iteklo celkem 297,5 milionu USD a 18. srpna dal\u0161\u00edch 189,3 milionu USD. Kumulativn\u011b tak spotov\u00e1 Bitcoin ETF od sv\u00e9ho spu\u0161t\u011bn\u00ed eviduj\u00ed \u010dist\u00e9 p\u0159\u00edlivy p\u0159es 52,3 miliardy USD.\" class=\"wp-image-282581\"  \/><\/p>\n<p>\t\tTabulka zachycuje denn\u00ed \u010dist\u00e9 toky do americk\u00fdch spotov\u00fdch Bitcoin ETF v pr\u016fb\u011bhu srpna 2026. Po v\u00fdrazn\u00fdch odlivech v prvn\u00ed polovin\u011b m\u011bs\u00edce se institucion\u00e1ln\u00ed popt\u00e1vka v posledn\u00edch dnech v\u00fdrazn\u011b zlep\u0161ila. 17. srpna p\u0159iteklo celkem 297,5 milionu USD a 18. srpna dal\u0161\u00edch 189,3 milionu USD. Kumulativn\u011b tak spotov\u00e1 Bitcoin ETF od sv\u00e9ho spu\u0161t\u011bn\u00ed eviduj\u00ed \u010dist\u00e9 p\u0159\u00edlivy p\u0159es 52,3 miliardy USD. Zdroj: Farside Investors<\/p>\n<p class=\"ub_call_to_action_headline_text\" style=\"font-size: 30px; text-align: center; \">Investujte do bitcoinov\u00fdch ETF na platform\u011b XTB<\/p>\n<p>P\u00e1ka nad 90 miliard USD spustila lavinu likvidac\u00ed<\/p>\n<p class=\"wp-block-paragraph\">Pr\u00e1v\u011b vysok\u00e1 m\u00edra leverage podle BlackRocku v\u00fdrazn\u011b p\u0159isp\u011bla k prudk\u00e9mu propadu. Jakmile p\u0159i\u0161el negativn\u00ed makroekonomick\u00fd impuls, za\u010daly se p\u00e1kov\u00e9 pozice rychle uzav\u00edrat.<\/p>\n<p class=\"wp-block-paragraph\">Situaci zhor\u0161ily tak\u00e9 odlivy z investi\u010dn\u00edch produkt\u016f a slab\u0161\u00ed popt\u00e1vka po digit\u00e1ln\u00edch aktivech. N\u00e1sledn\u00e1 vlna likvidac\u00ed srazila bitcoin v pr\u016fb\u011bhu roku a\u017e pod hranici 60 000 USD.<\/p>\n<p class=\"wp-block-paragraph\">Za d\u016fle\u017eit\u00fd spou\u0161t\u011b\u010d BlackRock ozna\u010duje tak\u00e9 geopolitick\u00e9 a obchodn\u00ed nap\u011bt\u00ed. Investo\u0159i v prost\u0159ed\u00ed zv\u00fd\u0161en\u00e9 nejistoty p\u0159esouvali kapit\u00e1l do tradi\u010dn\u00edch aktiv, zat\u00edmco americk\u00e9 <a href=\"https:\/\/kryptomagazin.cz\/co-jsou-akcie\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">akcie<\/a> pokra\u010dovaly v r\u016fstu.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1017\" height=\"392\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/btc1-3.png\" alt=\"Graf ukazuje v\u00fdvoj otev\u0159en\u00e9ho z\u00e1jmu na bitcoinov\u00fdch futures trz\u00edch. Po prudk\u00e9m r\u016fstu v letech 2024\u20132025 n\u00e1sledovalo v\u00fdrazn\u00e9 odbour\u00e1v\u00e1n\u00ed p\u00e1kov\u00fdch pozic, kter\u00e9 vyvrcholilo b\u011bhem velk\u00fdch likvidac\u00ed. Prav\u00fd graf z\u00e1rove\u0148 zachycuje v\u00fdrazn\u00e9 denn\u00ed zm\u011bny open interestu, zejm\u00e9na b\u011bhem \u0159\u00edjnov\u00e9ho v\u00fdprodeje.\" class=\"wp-image-282583\"  \/><\/p>\n<p>\t\tGraf ukazuje v\u00fdvoj otev\u0159en\u00e9ho z\u00e1jmu na bitcoinov\u00fdch futures trz\u00edch. Po prudk\u00e9m r\u016fstu v letech 2024\u20132025 n\u00e1sledovalo v\u00fdrazn\u00e9 odbour\u00e1v\u00e1n\u00ed p\u00e1kov\u00fdch pozic, kter\u00e9 vyvrcholilo b\u011bhem velk\u00fdch likvidac\u00ed. Prav\u00fd graf z\u00e1rove\u0148 zachycuje v\u00fdrazn\u00e9 denn\u00ed zm\u011bny open interestu, zejm\u00e9na b\u011bhem \u0159\u00edjnov\u00e9ho v\u00fdprodeje. Zdroj: BlackRock<\/p>\n<p>Pro\u010d by m\u011bla korelace bitcoinu s akciemi klesat<\/p>\n<p class=\"wp-block-paragraph\">Pr\u00e1v\u011b zde vid\u00edm jednu z nejzaj\u00edmav\u011bj\u0161\u00edch \u010d\u00e1st\u00ed anal\u00fdzy. Pokud skute\u010dn\u011b do\u0161lo k v\u00fdrazn\u00e9mu vy\u010di\u0161t\u011bn\u00ed spekulativn\u00edch pozic, bitcoin m\u016f\u017ee b\u00fdt nyn\u00ed m\u00e9n\u011b n\u00e1chyln\u00fd k extr\u00e9mn\u00edm pohyb\u016fm zp\u016fsoben\u00fdm p\u0159edev\u0161\u00edm p\u00e1kou.<\/p>\n<p class=\"wp-block-paragraph\">BlackRock proto o\u010dek\u00e1v\u00e1, \u017ee korelace bitcoinu s ostatn\u00edmi rizikov\u00fdmi aktivy bude postupn\u011b klesat. To by odpov\u00eddalo jeho dlouhodob\u011bj\u0161\u00ed charakteristice diverzifika\u010dn\u00edho aktiva.<\/p>\n<p class=\"wp-block-paragraph\">J\u00e1 si mysl\u00edm, \u017ee tento argument m\u00e1 ur\u010ditou logiku. Bitcoin se v obdob\u00ed vysok\u00e9 spekulace chov\u00e1 jinak ne\u017e v prost\u0159ed\u00ed, kde v\u011bt\u0161\u00ed \u010d\u00e1st trhu dr\u017e\u00ed dlouhodob\u011bj\u0161\u00ed investo\u0159i.<\/p>\n<p class=\"wp-block-paragraph\">Z\u00e1rove\u0148 ale plat\u00ed, \u017ee vy\u010di\u0161t\u011bn\u00ed p\u00e1ky samo o sob\u011b je\u0161t\u011b neznamen\u00e1 hotov\u00e9 dno \u2014 medv\u011bd\u00ed f\u00e1ze po p\u0159edchoz\u00edch halvinz\u00edch trvaly v pr\u016fm\u011bru 391 dn\u00ed a ta sou\u010dasn\u00e1 je zat\u00edm krat\u0161\u00ed.<\/p>\n<p>Po volb\u00e1ch 2020 vynesl bitcoin 113 % za 60 dn\u016f<\/p>\n<p class=\"wp-block-paragraph\">BlackRock z\u00e1rove\u0148 p\u0159ipom\u00edn\u00e1, \u017ee bitcoin v minulosti dok\u00e1zal po v\u00fdznamn\u00fdch makroekonomick\u00fdch \u0161oc\u00edch pom\u011brn\u011b rychle obnovit svou v\u00fdkonnost.<\/p>\n<p class=\"wp-block-paragraph\">Anal\u00fdza zmi\u0148uje nap\u0159\u00edklad pandemii v roce 2020, americk\u00e9 prezidentsk\u00e9 volby, region\u00e1ln\u00ed bankovn\u00ed krizi nebo zm\u011bny obchodn\u00ed politiky Spojen\u00fdch st\u00e1t\u016f. Po n\u011bkter\u00fdch t\u011bchto ud\u00e1lostech Bitcoin b\u011bhem n\u00e1sleduj\u00edc\u00edch 60 dn\u016f zaznamenal velmi v\u00fdrazn\u00e9 zisky.<\/p>\n<p class=\"wp-block-paragraph\">V p\u0159\u00edpad\u011b prezidentsk\u00fdch voleb v roce 2020 dos\u00e1hl podle BlackRocku jeho 60denn\u00ed v\u00fdnos a\u017e 113 %.<\/p>\n<p class=\"wp-block-paragraph\">To je podle m\u011b d\u016fle\u017eit\u00fd kontext. Jednotliv\u00e9 kr\u00e1tkodob\u00e9 propady toti\u017e samy o sob\u011b nemus\u00ed vypov\u00eddat o dlouhodob\u00e9 funkci <a href=\"https:\/\/kryptomagazin.cz\/bitcoin-ekologie-a-energeticka-efektivita\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">bitcoinu<\/a> v portfoliu.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1017\" height=\"561\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/btc1-4.png\" alt=\"Graf ukazuje v\u00fdvoj bitcoinu, zlata a indexu S&amp;P 500 po v\u00fdznamn\u00fdch geopolitick\u00fdch a makroekonomick\u00fdch \u0161oc\u00edch od roku 2020. Zaj\u00edmav\u00e9 je, \u017ee bitcoin v horizontu 60 dn\u016f po n\u011bkter\u00fdch kriz\u00edch v\u00fdrazn\u011b p\u0159ekonal tradi\u010dn\u00ed aktiva, zejm\u00e9na po americk\u00fdch volb\u00e1ch a region\u00e1ln\u00ed bankovn\u00ed krizi.\" class=\"wp-image-282584\"  \/><\/p>\n<p>\t\tGraf ukazuje v\u00fdvoj bitcoinu, zlata a indexu S&amp;P 500 po v\u00fdznamn\u00fdch geopolitick\u00fdch a makroekonomick\u00fdch \u0161oc\u00edch od roku 2020. Zaj\u00edmav\u00e9 je, \u017ee bitcoin v horizontu 60 dn\u016f po n\u011bkter\u00fdch kriz\u00edch v\u00fdrazn\u011b p\u0159ekonal tradi\u010dn\u00ed aktiva, zejm\u00e9na po americk\u00fdch volb\u00e1ch a region\u00e1ln\u00ed bankovn\u00ed krizi. Zdroj: BlackRock<\/p>\n<p>Po eskalaci konfliktu s \u00cdr\u00e1nem bitcoin p\u0159ekonal akcie i zlato<\/p>\n<p class=\"wp-block-paragraph\">BlackRock upozor\u0148uje tak\u00e9 na v\u00fdvoj v roce 2026. Navzdory geopolitick\u00e9mu nap\u011bt\u00ed bitcoin podle jeho anal\u00fdzy po n\u011bkter\u00fdch v\u00fdznamn\u00fdch ud\u00e1lostech dok\u00e1zal p\u0159ekonat nejen akcie, ale tak\u00e9 zlato.<\/p>\n<p class=\"wp-block-paragraph\">Konkr\u00e9tn\u011b zmi\u0148uje konflikt mezi Spojen\u00fdmi st\u00e1ty a \u00cdr\u00e1nem, jeho\u017e za\u010d\u00e1tek v \u00fanoru a n\u00e1sledn\u00fd konec p\u0159\u00edm\u011b\u0159\u00ed v \u010dervenci p\u0159edstavovaly pro finan\u010dn\u00ed trhy v\u00fdznamn\u00e9 momenty.<\/p>\n<p class=\"wp-block-paragraph\">Bitcoin v t\u011bchto obdob\u00edch vyk\u00e1zal pozitivn\u00ed v\u00fdkonnost a p\u0159ekonal americk\u00e9 akcie i zlato. To podle BlackRocku podporuje tezi, \u017ee jeho dlouhodob\u00e9 vyu\u017eit\u00ed m\u016f\u017ee b\u00fdt \u0161ir\u0161\u00ed ne\u017e pouh\u00e1 spekulace na r\u016fst ceny.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1031\" height=\"228\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/btc2-2.png\" alt=\"Bitcoin m\u00e1 ze sledovan\u00fdch aktiv nejvy\u0161\u0161\u00ed volatilitu. Za posledn\u00edch 12 m\u011bs\u00edc\u016f dos\u00e1hla anualizovan\u00e1 realizovan\u00e1 volatilita bitcoinu 40 %, zat\u00edmco u zlata \u010dinila 26 % a u indexu S&amp;P 500 pouze 12 %.\" class=\"wp-image-282592\"  \/><\/p>\n<p>\t\tBitcoin m\u00e1 ze sledovan\u00fdch aktiv nejvy\u0161\u0161\u00ed volatilitu. Za posledn\u00edch 12 m\u011bs\u00edc\u016f dos\u00e1hla anualizovan\u00e1 realizovan\u00e1 volatilita bitcoinu 40 %, zat\u00edmco u zlata \u010dinila 26 % a u indexu S&amp;P 500 pouze 12 %. Zdroj: BlackRock<\/p>\n<p>Volatilita 40 % proti 26 % u zlata a 12 % u S&amp;P 500<\/p>\n<p class=\"wp-block-paragraph\">Bitcoin v\u0161ak st\u00e1le nelze srovn\u00e1vat se zlatem nebo akciemi z hlediska stability. Jeho volatilita z\u016fst\u00e1v\u00e1 v\u00fdrazn\u011b vy\u0161\u0161\u00ed.<\/p>\n<p class=\"wp-block-paragraph\">Dvan\u00e1ctim\u011bs\u00ed\u010dn\u00ed realizovan\u00e1 volatilita bitcoinu podle BlackRocku dosahuje 40 %. U zlata je to p\u0159ibli\u017en\u011b 26 % a u indexu S&amp;P 500 pouze 12 %.<\/p>\n<p class=\"wp-block-paragraph\">Bitcoin tak st\u00e1le p\u0159edstavuje v\u00fdrazn\u011b rizikov\u011bj\u0161\u00ed aktivum. Z\u00e1rove\u0148 ale nab\u00edz\u00ed vlastnosti, kter\u00e9 tradi\u010dn\u00ed aktiva nemaj\u00ed.<\/p>\n<p class=\"wp-block-paragraph\">Zaj\u00edmav\u00fd je tak\u00e9 vztah k americk\u00fdm akci\u00edm. \u0160estim\u011bs\u00ed\u010dn\u00ed korelace bitcoinu s indexem S&amp;P 500 dosahuje kolem 0,18, zat\u00edmco u zlata je pouze 0,06. Bitcoin tedy zat\u00edm nen\u00ed tak nez\u00e1visl\u00fd na akciov\u00e9m trhu jako klasick\u00e9 bezpe\u010dn\u00e9 \u00fato\u010di\u0161t\u011b.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1018\" height=\"761\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/btc2-1.png\" alt=\"Graf ukazuje desetilet\u00fd pr\u016fm\u011br \u0161estim\u011bs\u00ed\u010dn\u00ed korelace mezi bitcoinem a vybran\u00fdmi aktivy. Bitcoin m\u00e1 v\u00fdrazn\u011b ni\u017e\u0161\u00ed korelaci s akciemi rozv\u00edjej\u00edc\u00edch se trh\u016f a dluhopisy ne\u017e s rizikov\u011bj\u0161\u00edmi aktivy, co\u017e podporuje jeho roli diverzifika\u010dn\u00edho aktiva.\" class=\"wp-image-282589\"  \/><\/p>\n<p>\t\tGraf ukazuje desetilet\u00fd pr\u016fm\u011br \u0161estim\u011bs\u00ed\u010dn\u00ed korelace mezi bitcoinem a vybran\u00fdmi aktivy. Bitcoin m\u00e1 v\u00fdrazn\u011b ni\u017e\u0161\u00ed korelaci s akciemi rozv\u00edjej\u00edc\u00edch se trh\u016f a dluhopisy ne\u017e s rizikov\u011bj\u0161\u00edmi aktivy, co\u017e podporuje jeho roli diverzifika\u010dn\u00edho aktiva. Zdroj: BlackRock<\/p>\n<p>Digit\u00e1ln\u00ed zlato, nebo rizikov\u00e1 s\u00e1zka na technologie?<\/p>\n<p class=\"wp-block-paragraph\">Pr\u00e1v\u011b ot\u00e1zka, zda bitcoin skute\u010dn\u011b funguje jako digit\u00e1ln\u00ed zlato, se v posledn\u00edch m\u011bs\u00edc\u00edch znovu dostala do pop\u0159ed\u00ed.<\/p>\n<p class=\"wp-block-paragraph\">BlackRock ale tvrd\u00ed, \u017ee jeho dlouhodob\u00fd investi\u010dn\u00ed p\u0159\u00edb\u011bh se st\u00e1le v\u00edce podob\u00e1 pr\u00e1v\u011b zlatu. Bitcoin m\u016f\u017ee podle n\u011bj fungovat jako glob\u00e1ln\u00ed monet\u00e1rn\u00ed alternativa a ochrana proti <a href=\"https:\/\/kryptomagazin.cz\/co-je-inflace\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">inflaci<\/a>, geopolitick\u00e9mu chaosu a poklesu d\u016fv\u011bry ve fiat m\u011bny.<\/p>\n<p class=\"wp-block-paragraph\">Kr\u00e1tkodob\u011b v\u0161ak m\u016f\u017ee jeho chov\u00e1n\u00ed vypadat \u00fapln\u011b jinak. V n\u011bkter\u00fdch obdob\u00edch se bitcoin pohybuje sp\u00ed\u0161e jako r\u016fstov\u00e1 akcie ne\u017e jako klasick\u00e9 uchovatel hodnoty.<\/p>\n<p class=\"wp-block-paragraph\">To ostatn\u011b uk\u00e1zal i posledn\u00ed velk\u00fd propad. Siln\u00e1 korelace s rizikov\u00fdmi aktivy a masivn\u00ed vyu\u017eit\u00ed p\u00e1ky dok\u00e1zaly bitcoin b\u011bhem kr\u00e1tk\u00e9 doby st\u00e1hnout v\u00fdrazn\u011b n\u00ed\u017ee.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"1031\" height=\"436\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on--pointerdown=\"actions.preloadImage\" data-wp-on--pointerenter=\"actions.preloadImageWithDelay\" data-wp-on--pointerleave=\"actions.cancelPreload\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/08\/btc3.png\" alt=\"Bitcoin za posledn\u00edch 10 let v\u00fdrazn\u011b p\u0159ekon\u00e1val tradi\u010dn\u00ed aktiva, ale za cenu mnohem v\u011bt\u0161\u00edch v\u00fdkyv\u016f. Graf ukazuje jeho nejvy\u0161\u0161\u00ed m\u011bs\u00ed\u010dn\u00ed zisky i ztr\u00e1ty a z\u00e1rove\u0148 v\u00fdrazn\u011b pozitivn\u00ed \u0161ikmost v\u00fdnos\u016f.\" class=\"wp-image-282593\"  \/><\/p>\n<p>\t\tBitcoin za posledn\u00edch 10 let v\u00fdrazn\u011b p\u0159ekon\u00e1val tradi\u010dn\u00ed aktiva, ale za cenu mnohem v\u011bt\u0161\u00edch v\u00fdkyv\u016f. Graf ukazuje jeho nejvy\u0161\u0161\u00ed m\u011bs\u00ed\u010dn\u00ed zisky i ztr\u00e1ty a z\u00e1rove\u0148 v\u00fdrazn\u011b pozitivn\u00ed \u0161ikmost v\u00fdnos\u016f. Zdroj: BlackRock<\/p>\n<p>Co te\u010f rozhodne o dal\u0161\u00edm sm\u011bru bitcoinu<\/p>\n<p class=\"wp-block-paragraph\">Podle m\u011b je nyn\u00ed kl\u00ed\u010dov\u00e9 sledovat, zda se bitcoin dok\u00e1\u017ee postupn\u011b odpoutat od \u010dist\u011b spekulativn\u00edho chov\u00e1n\u00ed. Pokud skute\u010dn\u011b do\u0161lo k odstran\u011bn\u00ed velk\u00e9 \u010d\u00e1sti nadm\u011brn\u00e9 p\u00e1ky, <a href=\"https:\/\/kryptomagazin.cz\/co-je-to-trh\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">trh<\/a> m\u016f\u017ee b\u00fdt zdrav\u011bj\u0161\u00ed ne\u017e p\u0159ed p\u0159edchoz\u00edm propadem.<\/p>\n<p class=\"wp-block-paragraph\">To ale automaticky neznamen\u00e1, \u017ee dal\u0161\u00ed r\u016fst p\u0159ijde bez probl\u00e9m\u016f. Bitcoin st\u00e1le z\u016fst\u00e1v\u00e1 citliv\u00fd na m\u011bnovou politiku, likviditu, geopolitiku i v\u00fdvoj americk\u00fdch akci\u00ed.<\/p>\n<p class=\"wp-block-paragraph\">BlackRock nav\u00edc ne\u0159\u00edk\u00e1, \u017ee bitcoin p\u0159estane b\u00fdt volatiln\u00ed. Jeho argument je sp\u00ed\u0161e dlouhodob\u00fd. Pokud se spekulativn\u00ed excesy vy\u010distily, m\u016f\u017ee se postupn\u011b v\u00edce projevit investi\u010dn\u00ed funkce bitcoinu jako diverzifika\u010dn\u00edho aktiva.<\/p>\n<p class=\"wp-block-paragraph\">Osobn\u011b proto pracuju i s variantou, \u017ee cyklu chyb\u00ed je\u0161t\u011b jedna sestupn\u00e1 vlna, ne\u017e se rozjede nov\u00fd r\u016fstov\u00fd trend. BlackRock ale \u017e\u00e1dnou cenovou progn\u00f3zu ned\u00e1v\u00e1 \u2014 jeho argument je \u010dist\u011b struktur\u00e1ln\u00ed a s na\u010dasov\u00e1n\u00edm dna nijak nepracuje.<\/p>\n<p class=\"ub_call_to_action_headline_text\" style=\"font-size: 30px; text-align: center; \">Investujte do bitcoinov\u00fdch ETF na platform\u011b XTB<\/p>\n<p>Co si o anal\u00fdze BlackRocku mysl\u00edm<\/p>\n<p class=\"wp-block-paragraph\">Na anal\u00fdze BlackRocku m\u011b zaujala p\u0159edev\u0161\u00edm skute\u010dnost, \u017ee spole\u010dnost nepova\u017euje propad o v\u00edce ne\u017e 50 % za d\u016fkaz selh\u00e1n\u00ed bitcoinov\u00e9ho p\u0159\u00edb\u011bhu. Naopak ho vn\u00edm\u00e1 jako d\u016fsledek p\u0159ehnan\u00e9 spekulace, vysok\u00e9 p\u00e1ky a n\u00e1sledn\u00fdch nucen\u00fdch likvidac\u00ed.<\/p>\n<p class=\"wp-block-paragraph\">To je podstatn\u00fd rozd\u00edl. Pokud byl hlavn\u00edm probl\u00e9mem skute\u010dn\u011b p\u0159ebytek p\u00e1kov\u00fdch pozic, jejich odstran\u011bn\u00ed m\u016f\u017ee vytvo\u0159it stabiln\u011bj\u0161\u00ed z\u00e1klad pro dal\u0161\u00ed v\u00fdvoj. Bitcoin ale st\u00e1le mus\u00ed dok\u00e1zat, \u017ee dok\u00e1\u017ee fungovat jako dlouhodob\u00e9 diverzifika\u010dn\u00ed aktivum i v prost\u0159ed\u00ed, kde se kapit\u00e1l p\u0159esouv\u00e1 mezi akciemi, dluhopisy a zlatem.<\/p>\n<p class=\"wp-block-paragraph\">Osobn\u011b bych proto sou\u010dasnou situaci nebral jako jednoduch\u00fd sign\u00e1l k optimismu ani pesimismu. D\u016fle\u017eit\u011bj\u0161\u00ed bude sledovat, jak se bude bitcoin chovat b\u011bhem dal\u0161\u00edch makroekonomick\u00fdch \u0161ok\u016f. Pr\u00e1v\u011b tam se uk\u00e1\u017ee, zda se jeho korelace s rizikov\u00fdmi aktivy skute\u010dn\u011b za\u010dne sni\u017eovat, jak BlackRock o\u010dek\u00e1v\u00e1.<\/p>\n<p class=\"wp-block-paragraph\">Mysl\u00edte si, \u017ee bitcoin po odstran\u011bn\u00ed spekulativn\u00ed p\u00e1ky skute\u010dn\u011b z\u00edsk\u00e1 siln\u011bj\u0161\u00ed pozici jako digit\u00e1ln\u00ed zlato? Napi\u0161te sv\u016fj n\u00e1zor do koment\u00e1\u0159\u016f. \ud83d\udc47<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin za\u017eil od sv\u00e9ho historick\u00e9ho maxima v\u00fdraznou korekci. Podle spole\u010dnosti BlackRock v\u0161ak nejde o zm\u011bnu dlouhodob\u00e9ho investi\u010dn\u00edho p\u0159\u00edb\u011bhu&hellip;\n","protected":false},"author":2,"featured_media":187844,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[412,183,3244,44059,44060,15927,67,68,44061,44062,44063,16268,952,62,12592,44064,558],"class_list":["post-187843","post","type-post","status-publish","format-standard","has-post-thumbnail","category-byznys","tag-akcie","tag-aktuality","tag-bitcoin","tag-bitcoin-etf","tag-blackrock","tag-btc","tag-business","tag-byznys","tag-cena-bitcoinu","tag-fiat-mena","tag-korelace","tag-kryptomena","tag-sp-500","tag-trh","tag-usd","tag-volatilita","tag-zlato"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/117138198003814246","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/187843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=187843"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/187843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/187844"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=187843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=187843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=187843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}