Is Bitcoin Replacing Gold Soon?

Must Read

Eight Things in Crypto You Can’t Afford to Miss This Week

In this roundup, we cover China's market-rattling resistance to Bitcoin, the increasing drumbeat toward crypto regulation, the...

Why the Cloud Industry Needs to Become Greener

According to Energy Post, the Internet will consume 20% of the projected electricity demand...

Your Wallet May Not Be as Secure as You Think; Here’s What To Do

Remember the egregious breach that exposed Ledger’s entire trove of customer data to the public?...
- Advertisement -
Earn Free Bitcoin

Bitcoin is beating gold while everyone at the global markets is quietly watching what is going to happen.

The cryptocurrency is trading at $11,700 today, with 16% gains on a month-to-date basis. Meanwhile, the old safe-haven asset, gold, has added only 6% this month.

What happened was that the precious metal picked up a bid at $1,400 on August 1, after Donald Trump decided to escalate trade tensions with China. The U. S. President’s move caused a flight-to-quality so the S&P 500, a global benchmark for riskier assets, fell 0.9% on the same day.
It got worse earlier this week when China let its official currency to fall beyond the major psychological level of 7¥ per U.S. Dollar.

It led to the S&P 500 fell to a two-month low of $2,822 on Monday. Meanwhile gold extended gains to hit a new high of $1,510 yesterday. Surprisingly, bitcoin also found takers near $9,900 on August 1 and increased to a one-month high of $12,325 on Tuesday.

Ran Neuner, a crypto trader and the CEO of Onchain Capital, shared his opinion on the possible future of the new safe haven posting on his twitter:

Even though there is not enough statistics to predict for sure that the bitcoin is going to be a new safe-haven asset, the latest events on the market show that everything is moving this direction.

- Advertisement -
- Advertisement -

Latest News

Sunday Market Analysis from Trendtracers

BTCUSDT. First impression is bearish, there seems to be yearly support at around 28k, We’re expecting more...
- Advertisement -Earn Free Bitcoin

Earn Passive Income with Nhash Cloud Mining Services

Cloud mining services are an easy way to earn passive income online. Although...

Afri-X and DigiShares Bring Tokenization to Africa

DigiShares is proud to announce its partnership withAfri-x.com to deliver the power of tokenization to Africa. DigiShares has licensed its tokenization platform to...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to announce that it has been...

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...