Bitcoin Gains Ground On Gold Even As Both Assets Slide
For six straight weeks, Bitcoin was losing the battle against gold. That streak has now reversed — and it has held for two weeks running, with Bitcoin up more than 4% against the precious metal this week alone. Related Reading: Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges A Parallel Decline Reshapes The Debate The timing of that rebound is striking, given that both assets are deep in correction territory right now. Bitcoin dropped from a weekly high of $76,000 to below $70,000, a slide of roughly 8.7%. Gold fared no better, shedding 8.5% in the same period, pushing the price....
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The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin (BTC) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two....
In the dynamic financial sector, Bitcoin ETFs are rapidly gaining ground against their gold counterparts, with inflows pushing total assets under management toward record highs. Bitcoin ETFs are set to overtake gold ETFs in total assets under management. Bitcoin ETFs Cement Role As Institutional Gateway To Crypto Bitcoin Exchange-Traded Funds (ETFs) are on the brink […]
There will always be a degree of rivalry between bitcoin and gold as the "king of safe haven assets". Comparisons between gold and bitcoin continue to be drawn, even though these two assets are not exactly alike. The outlook for both speculative assets is looking quite good for now, even though it is hard to predict what will happen next. Both assets can see significant value gains throughout 2017, even though it remains to be seen if that will be the case. Demand for non-currency assets is expected to soar in 2017. With the year 2016 being quite positive for both gold and....
The Brexit is a doom scenario for traditional finance all over the world. As stock markets continue to lose ground, and the Pound Sterling devalues, there is an increased interest in gold and silver. Bitcoin, that other scarce store of value, is doing quite well too. While the majority of investors around the world thought the Brexit vote would result in....
Bitcoin (BTC) and gold, two seemingly divergent assets, find common ground in the eyes of veteran macro investor Luke Gromen. In a recent interview, Gromen posits that these assets could flourish as the fiscal challenges in the United States continue to mount. Gromen’s argument hinges on the idea that both gold and Bitcoin are “duration assets” with fixed supplies and the potential for their face values to rise. In times of fiscal distress, these assets tend to shine. Related Reading: Crypto Era Looms: BIS Innovations Chief Calls On Central Banks To Prepare As the US....