Spot bitcoin fell 1.45 percent to $9,501 as of 0900 UTC as the U.S. dollar rebounded from its seven-day plunge.The cryptocurrency’s downside move surfaced ahead of a fresh U.S. trade and unemployment data release at 0830 ET on Thursday.The U.S. stock market, which remains positively correlated to bitcoin, also dived as investors booked short-term profits.Bitcoin…
Bitcoin has long been referred to as the digital counterpart to the scarce physical asset and precious metal, gold. But could altcoins be the digital silver to Bitcoin as digital gold?According to an incredibly bizarre correlation, altcoins are nearly perfectly tracking alongside silver, albeit across different timeframes. What exactly does this mean, and is this…
Bitcoin has beaten Gold in terms of returns on investments in its 11-year existence.Now the cryptocurrency is taking on the biggest hedging asset for its limitations in the 21st century.The Bitcoin market is on the move again. The cryptocurrency has seen its price ballooning by more than 150 percent from its March-lows. Meanwhile, it has…
Bitcoin outperformed its traditional rival Gold on a year-adjusted timeframe.The cryptocurrency’s spot price surged more than 50 percent in a year, with a string of geopolitical and macroeconomic factors helping its rally.The same period saw the SPDR Gold Trust ETF rising by more than 32 percent.Bitcoin didn’t get its exchange-traded fund, but it surely got to…
Billionaire hedge fund pioneer Paul Tudor Jones sees bitcoin leaping above $20,000.The Tudor Investment Corporation founder compared the decade-old cryptocurrency with the gold market in the 1970s.The yellow metal’s fractal hinted at bitcoin rising about 100 percent after it closes above its all-time high.Famed hedge fund manager Paul Tudor Jones believes Bitcoin could fly way…
Gold, the original store of wealth and safe-haven asset, recently set a new seven-year high as the recession ramps up. But as the high was tapped, profit-taking began and a pullback ensued.However, one long-term trend finding indicator has flipped green on monthly timeframes, potentially carrying gold to a new all-time high and a decade of…
Gold‘s growth continues to sustain, reaching new highs this week not traded since the last economic recession.The rally also is showing very few signs it will slow down any time soon, and one particular indicator confirms there is “more fuel in the tank,” according to an analyst.Gold Prices Soar to Over $1,730, Setting New Local…
Gold prices continue to soar as expectations of the worst recession the world has ever seen grow by the day due to the last impact the coronavirus will have on the economy.However, UBS analysts are expecting a strong reversal in gold in the back half of 2020 as stimulus packages and policy changes from the…
The impact of the coronavirus will have a negative long-term effect on the economy, bringing forth a major recession and potentially with it, the collapse of the dollar. With the dollar potentially dying in the months and years ahead, a published author, investor, and entrepreneur is recommending that investors buy Bitcoin and gold in preparation…
Bitcoin and gold have been tracking alongside one another for nearly two years now as the global economy inches closer and closer to total collapse.If the correlation continues, the latest drop in Bitcoin will be nothing more than a bear trap designed to shake out investors before the asset reclaims a long-term trend line and…