Gold outshines Bitcoin in Q2 even after posting its worst month since 2016
Safe-haven rivals move inversely to one another in a quarter mired by mixed inflation reports, Elon Musk FUD, and a suddenly hawkish Federal Reserve. Gold is set to outperform Bitcoin (BTC) in the second quarter of 2021.An ounce of gold has surged from $1,707.45 on April 1 to over $1,750 in the still-running June 30 session. That marked a roughly 3.9% jump over the quarter. Meanwhile, Bitcoin has plunged by more than 40% to below $35,000 after topping out near $65,000 in mid-April, all in the same period.The inverse correlation between Bitcoin and gold markets surged specifically in April....
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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....
Do Wall Street’s woes have anything to do with bitcoin’s bounce? Bitcoin was one of the few winning investments in the worst first week of the year for U.S. stocks, according to The Wall Street Journal. The Dow Jones Industrial Average (DJIA) and the S&P 500 had their worst first weeks in history. Bitcoin, gold, the yen and natural gas were in growth modes. At the close of trading Friday, the DJIA fell 6.2%, the S&P 500 lost 5.96%, and the Nasdaq was down 7.3%. In addition, 10-year Treasury yields fell 0.141 percentage points to 2.131% and Nymex crude oil dropped 10.48%. The DJIA’s....
The world's second-worst currency this year is Ukraine's hryvnia. Being at war with a nuclear-endowed superpower is an expensive business, and Ukraine's economy is crippled even after an international bailout worth $17 billion. And the worst is Bitcoin, Bloomberg View reports. "Bitcoin is second only to gold on the list of topics guaranteed to arouse the wrath of the Internet trolls. Yet relentless promotion can't hide these facts: The digital currency peaked at a value of $1,130 just over a year ago. Its plunge of more than 56 percent in 2014 makes it the world's worst performing currency....
Gold disappointed investors in 2021 as a traditional hedge against inflation, seeing its worst year since 2015. Bitcoin (BTC), the world’s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton’s finance professor.Gold’s performance was “disappointing” in 2021, Wharton School finance professor Jeremy Siegel said in a CNBC Squawk Box interview on Friday.On the other hand, BTC has been increasingly emerging as an inflation hedge among younger investors, Siegel argued:“Let’s face the fact, I think Bitcoin as an inflation hedge in the....
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....