Bitcoin Nears Gold Parity
Bitcoin is nearing a psychological tipping point, gold parity. Its price has been accelerating in the past few days, increasing by $100 in just over 24 hours. Meanwhile, gold has fallen by $200 this quarter, currently standing at $1,134.45. Gold’s Price This Quarter. There appears to be a strong inverse correlation between gold and bitcoin from September to now, with bitcoin gaining $300 while gold has lost $200. The reasons for this inverse correlation are not fully clear. Bitcoin’s Price on Bitstamp. Gold usually performs well in times of uncertainty, as is often the case with bitcoin,....
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For the first time in the history of humankind, a currency has reached and surpassed the value of the oldest money on earth, gold. At around 5 PM London time on the fourth of January 2017 one bitcoin stood at $1,197 (8,320 CNY) at Huobi and 8,320 CNY at OKCoin, two of the main and most liquid bitcoin exchanges, while gold stood at $1,166. Two of the Most Liquid Bitcoin Exchanges Surpassed Gold Parity and ATH at 5 PM GMT on the 4th of January 2017. Reaching gold parity is an historical milestone for the eight-year-old digital currency which has grabbed the world’s imagination since its....
Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member states reached parity against the U.S. dollar for the first time in 20 years. Euro Hits Parity Against the US Dollar, Greenback Skyrockets Against a Basket of Fiat Currencies Even though it was a goal for the European Union (EU) to introduce a sovereign fiat currency for the EU back in the sixties, the euro did not get introduced until January 1, 1999. At first, the euro was introduced....
Precious metal markets have shuddered during the last few weeks, as gold’s price per ounce nears a six-week low hovering just under $1,700 per unit. Silver crashed through the $18 range slipping to $17.80 per ounce. While both gold and silver dipped between 0.85% to 0.89% against the U.S. dollar in 24 hours, platinum dropped 2.82% and palladium shed 4.18% against the USD during the last day.
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“I had to change my thought process to understand that bitcoin is no enemy of gold and silver,” says monetary expert Andy Hoffman, who writes for the precious metals website Miles Franklin. “When bitcoin hit price parity with gold in 2013, I was angry. I knew nothing about it. I assumed it was like the Federal Reserve. That, instead of 21 million coins,....
University of California, Berkeley and Parity Technologies are joining forces on several blockchain fronts, including educational development and awareness, by leveraging Parity’s expert team and the Substrate framework as knowledge-building resources. UC Berkeley Blockchain Xcelerator Partners with Parity to Promote Blockchain Adoption To bring more resources to the University of California, Berkeley community and Blockchain Xcelerator, Parity Technologies and the academic institution are expanding existing ties by forming a resource-rich educational framework for the 2020-2021....