A war has been raging between two cliques in the investment community — the Bitcoin bulls and the gold bugs. Over the past few years, it has become a popular practice for cryptocurrency proponents to equate or liken Bitcoin to gold, citing the asset’s non-sovereign, decentralized, fungible, borderless, international, and scarce nature. Related Reading: Data…
Throughout much of 2019, Bitcoin’s store of value narrative took a back seat to a new narrative developing around looming economic recession and the asset’s scarcity making it a safe haven asset much like gold. Bitcoin has had many comparisons to the precious metal, and is considered to be its digital counterpart. But Bitcoin also…
Gold outperformed Bitcoin on Wednesday as an impeachment inquiry into US President Donald Trump triggered demand for safe-haven assets. The yellow metal came near its three-week peak, with its spot trading at $1,530.29 per ounce as of 10:00 UTC. At the same time, US gold futures surged 0.1 percent to $1,538.30. Bitcoin, unlike Gold, trended…
Bitcoin appeared stuck in a price-range on Monday as attacks on Saudi Arabia’s oil facilities raised concerns over global energy supply and renewed tensions in the Middle East. The spot bitcoin rate slipped 0.03 percent to $10,301.78 on Coinbase, while bitcoin futures on CME surged by 1.12 percent to $10,380 as of 11:13 UTC. At…
Bitcoin was clueless about its direction on Tuesday as the chairman of the US Securities and Exchange Commission (SEC) hinted delays in the launch of the first bitcoin exchange-traded fund. The BTC/USD instrument was trading 0.65 percent lower at $10,242.60 as of 11:04 UTC. The move downhill extended the pair’s net week-to-date gains by 2.80…
One of the current negatives in the crypto industry is the tribalism and Bitcoin bickering between rival clans online. While healthy discussion on the pros and cons of virtual money should be encouraged, it often deteriorates into digital mudslinging which detracts from the real issues at hand. Schiff vs Pomp in Bitcoin Battle Goldbug Peter…
Over the past few months, Bitcoin (BTC) has been lauded by economists, investors, and commentators as an up-and-coming “safe haven” asset. You see, during a period of global turmoil, the cryptocurrency has managed to outpace effectively every other asset class in the books. Related Reading: Bitcoin Bull Run “Guaranteed”: Federal Reserve Expected to Cut Rates…
Bitcoin price has been rallying throughout 2019, and most believe that the crypto asset is about to embark on its greatest bull run yet. As global economic tensions and uncertainty rise, so does the price of gold and its digital counterpart Bitcoin. The rise has only further driven Bitcoin’s safe-haven asset narrative, suggesting it’s the…
For a while now, a debate has been raging between Bitcoin (BTC) bulls and gold investors. The former group argues that the cryptocurrency is a proper alternative to the precious metal; the latter actively rebut this sentiment, claiming that BTC has no inherent value, unlike gold. Related Reading: Global System to Combat Crypto-Driven Money Laundering…
Bitcoin is possibly on its way to new all-time highs, while altcoins like Ethereum, Ripple, and Litecoin are capitulating en masse. The two things don’t often go hand in hand due to how closely the two crypto asset types are connected, yet growing regulatory pressure and other important factors have caused a massive divergence in…