While shunning Bitcoin (BTC), central banks have embarked on somewhat of a gold buying spree. Russia’s monetary authority, for instance, now owns over $100 billion worth of the precious metal, which amounts to over 2,000 tons, after purchasing 20 tons just weeks ago. Related Reading: California City Confirms It Was Hit by Bitcoin Ransomware Attack…
July was yet another strong month for the stock markets despite looming threat of a coming economic recession, with the Dow, Nasdaq, and S&P 500 all close to beating out their average monthly gains for the calendar month. Bitcoin, however, has spent much of July locked in a downtrend. This morning as the Fed monetary…
Famous gold bug and Bitcoin naysayer Peter Schiff has provided comment about what he plans to do with the cache of Bitcoin recently donated to him by the Bitcoin Twitter community. The staunch anti-Bitcoiner said that just because he has been gifted some Bitcoin does not mean that he is suddenly a convert to crypto…
Bitcoin has often been referred to as ‘digital gold’, even more so in recent times when economic woes have been driving investors to safer havens. Industry experts have been weighing in with their own take on the narrative and BTC’s status as a store of value. Is Bitcoin Digital Gold? According to a report from…
Outspoken gold bug and Bitcoin naysayer Peter Schiff claims that the first-ever crypto asset’s “2019 low will not hold” due to the lack of volume during the recent bull run. With Bitcoin price skyrocketing from 2019 lows in the $3,000 to $4,000 range to a local high of $13,800, and its now struggling to sustain…
Despite the massive volatility that is a defining characteristic of the crypto markets, many proponents of Bitcoin (BTC) have claimed that the technology is posed to be a suitable replacement for safe haven assets like gold, and even for fiat currencies. Despite this, one critic of Bitcoin is claiming that BTC’s success over the past…
There is a growing trend across the world for nations to stock up on reserves of assets as a hedge against fiat and influences beyond their control. Gold is the standard but Bitcoin is rapidly catching up and one nation now has reportedly more BTC than their gold reserves. As further investigation reveals, however, this…
Both Bitcoin (BTC) and gold have once again been caught in the throes of volatility that have allowed them to form fresh levels of support and resistance that will likely continue to hold strong in the near-future. Despite this volatility, Bitcoin is still in a firm bull market, and analysts are now noting that gold…
Bitcoin’s revival is considered to be Facebook’s Libra doing. The social media’s giant sudden foray into the cryptocurrency industry gave bitcoin, as many believe, a perfect reason to grow its valuation. That is until one considers a simultaneous price rally that took place in the gold market. Bitcoin’s rise above the $13,000 level has only…
In recent weeks, the trade war between the Trump administration and China has been heating up, and fueling concerns that the global economy is on thin ice. The fears have caused a massive inflow of capital into gold and Bitcoin markets due to their scarcity and potential use as an economic hedge. The two markets…