A correction in gold and silver price coincides with a 3.45% drop in Bitcoin as its price fell below $11,500.
Nowadays, investors have divided into two groups: cryptocurrency vs gold. After comparing all the characteristics of digital money with precious metal, they appear to have a lot of in common. For example, they are produced through mining and both are almost impossible to destroy. Gold doesn’t react with acid or lye, and can’t be oxidized. In the same way, cryptocurrencies are immutable in that it is nearly impossible to shut down all the computers within the blockchain. Also, both of them can be profitable but still be at risk of cost fluctuations. In most transactions, they should be sold or exchanged for fiat currencies or an equivalent, but it is much easier to do with digital money. However, unlike gold, cryptocurrencies are not accepted in all countries.
For those who still can’t decide in which to invest, a group of Russian entrepreneurs has launched the GoldMint platform, which operates with a digital asset GOLD that is backed with reserves of real gold or ETH.
Bitcoin is one of the few ways to move an entire fortune abroad, Bitcoin bull Max Keiser says.7976
$12,000 is firmly back on the cards as daily gains top 2.2% and Bitcoin erases the effect of its weekend plunge.8700
Federal Reserve monetary policy appears to be a primary catalyst for the current rally in gold, silver and Bitcoin.7305
Bitcoin will eventually capture more of the market than gold, Morgan Creek’s Anthony Pompliano predicts.15550
Bloomberg suggests that the price of Bitcoin is stabilizing at six times the price of gold, yet it contends that the asset is still undervalued.7456
Gold price reached a new all-time high and the same factors behind its rally could also push Bitcoin price higher.24376
As the Turkish lira hits record lows despite foreign reserve selling, Steve Hanke says that only a “gold-backed currency board” can save the economy.10914
A depreciating US dollar as a reserve currency coupled with investors looking for attractive alternatives could see both BTC and gold rise.18220
A crypto consortium including Bittrex Global, Ledger, CertiK, and Uphold, has launched a gold token backed by the world’s largest refiner of newly minted gold.8163
The correlation between Bitcoin and gold daily returns is increasing, leading investors to expect further upside from BTC price.4327
This crypto exhibits no correlation with Bitcoin; it was designed to behave differently from every other currency — crypto or fiat, with a money supply that expands or contracts depending on demand.22600
Enjoying a stronger negative correlation with the U.S. dollar than gold, Bitcoin may start to present a more attractive alternative to both in the eyes of the investors.9272
Schiff makes some controversial assertions about gold’s prowess as mainstream interest in both gold and Bitcoin surges.12111
Bitcoin has the ability to replace gold as a safe haven for investors as the world turns digital, says Nigel Green.10717