Gold Plummets While Bitcoin Skyrockets
Bitcoin has come to be the known as digital gold – a new age currency whose value cannot be eaten away by the inflationary policies of the government. The two have shown divergent trends in May, with Bitcoin's value skyrocketing and gold declining. Causes for gold's decline. Gold is viewed as a safe haven for investment during periods of turmoil and tends to go up during times of crises. Gold also acts as a hedge against inflation and tends to rise when governments follow expansionary monetary policies. Increasing interest rates tend to result in a fall in gold prices, because money flows....
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While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. The two contemporary safe havens during the times of economic crisis are the representatives of tradition and technology. While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. And seems it is truly a digital age, as proved by recent bitcoin high over gold. The world is increasingly turning to bitcoin as a safe haven. Nonetheless, the demand for gold invariably....
Holger Zschaepitz, best selling financial author of “A book on states’ addictiveness to debt” and senior editor at Welt, recently discovered an intriguing relationship between gold and bitcoin: when gold plummets in value, the price of bitcoin surges. Based on this trend, he noted that bitcoin is beginning to be recognized as the new global safe haven....
Litecoin is often called the silver to Bitcoin as digital gold, and strangely, the two cryptocurrencies and two precious metals are exhibiting the same behavior where one is lagging behind the other. The lack of momentum in the digital and physical forms of silver have kept the price of both assets at bay for the […]
Bitcoin is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....
The price of SBTC plunged by nearly 98% in just over an hour on September 21 as devs announced the dissolution of the token. The dissolution announcement came more than a month after the token reached an all-time high of $5.07. At the time of writing, the token was quoted at $0.007 down from $0.64. In a short announcement issued via a Discord group, the SBTC team said they are no longer proceeding with the project while thanking those that stuck with the project until the end. According to information on Coinmarketcap, creators of the SBTC aimed to peg the token price to 0.0001 BTC or....