Why A Reversal In Gold Could Tarnish Recent Bitcoin Narrative
The last year in finance has been all about Bitcoin. The digital gold narrative arrived at the perfect time, amidst a perfect storm of stimulus money, irrational exuberance in the stock market, and more. The forecast is starting to change for gold, however, just as the top cryptocurrency is struggling to maintain its market structure […]
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Gold has been used as a store of value for eons, thanks to its beauty and almost magical ability to never tarnish. Furthermore, despite radical shifts in human values over the past 100 years, its worth still has not diminished - even soaring to over $1,000 an ounce in recent times. Now, though, there is a new, digital challenger on the scene that, when its price chart is compared with that of gold, bears some striking similarities. It's no wonder, then, that companies like Netagio nowallow people to trade bitcoin for precious metals like gold - it is a sign that investors want the ability....
2020 was the year of the digital gold narrative amid a pandemic and unprecedented money printing. In 2021, only Bitcoin matters and comparing it to gold at this point is selling the coin short. Now is the age of cryptocurrency, and no comparison shows that better than the two charts you are about to see […]
The digital gold narrative was partly responsible for institutional interest in Bitcoin, and putting the precious metal’s bull run on pause. Only recently was that narrative tarnished and cryptocurrencies fell by 50% in a flash. The crash in crypto sent Bitcoin back to retest its former all-time high against gold as resistance turned support, and […]
The narrative taking place across the finance industry, is that cryptocurrencies like Bitcoin and Ethereum are the way of the future and gold’s days are numbered as a store of value. While the “digital gold narrative” has already taken a major dent out of the precious metal’s momentum, according to a top Bloomberg Intelligence analyst, “most indicators point to” Bitcoin replacing the aging asset an an “accelerating pace.” Bitcoin Is Replacing Gold As “Store Of […]
Data shows the correlation between the Bitcoin price and the stock market is going up, putting the “digital gold” narrative at risk. Bitcoin’s Correlation With The Stock Market Has Shot Up In Recent Times As per the latest weekly report from Arcane Research, BTC’s price has increasingly become correlated with the stock market in the […]