Gold Rebounds More Than 15% Against Bitcoin In Crypto “Hash Crash”
For nearly a year now, the digital gold narrative has been a smash hit. It has prompted a tidal wave of capital from the gold market to enter Bitcoin and other cryptocurrencies. But over the weekend, the crypto market “hash crash” caused the precious metal to rebound by 17% against Bitcoin. In the past, reversals […]
Related News
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....
Stocks, oil, even gold are down on fears of resumed COVID-19 lockdowns, but bitcoin hodlers are keeping the faith.
Bitcoin may undergo a significant price correction before the US presidential election due to its proximity to gold, hints Clem Chambers. The CEO of ADVFN – Europe’s leading stocks and shares website, told Kitco News that most assets that have shown a positive correlation during the 2020 bull run tend to fall in tandem. He spoke about gold and how a “flash crash” in its markets could leave other assets in a similar bearish spell. […]
Bitcoin maximalists have always been known to refer to Bitcoin as digital gold. There are speculations that Bitcoin will overtake gold in the coming years as a preferred store of value. This seems to be the case with each bull market as Bitcoin outperformed gold by 10 times in 2020. Gold has always been a […]
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....