The bitcoin market capitalization on Tuesday skyrocketed above $200 billion for the first time since January 2018. The price of the world’s first and foremost cryptocurrency surged from $4,092 to as high as $11,470 in just less than three months. Earlier before, bitcoin has dipped as low as $3,404 during the first quarter of 2019,…
Over the weekend, Bitcoin price yet again shocked the crypto market and breached the important psychological resistance at $10,000, and soon after tested above $11,000 before a pair of violent rejections below. With the price level acting as such an important “FOMO” trigger, one crypto analyst says that $16,000 is coming “fast,” and if Bitcoin…
Bitcoin has drawn many comparisons to Gold, and is often referred to as the digital version of the precious metal and commodity due to its scarcity, potential as an economic hedge, and use as a store of value, among many others similarities the crypto asset and Gold share. Amidst increased trade tensions and a looming…
More nations appear to be starting to see the folly of fiat currency. With growing calls for gold-backed currencies for international settlement, there may be an opportunity for Bitcoin to facilitate trade deals with far less manipulation than possible when using national currencies. Evidence is mounting that countries are more distrusting of one another and…
Bitcoin price in recent days has started a long-overdue correction following a powerful multi-month, parabolic rally that took the price of the crypto asset from a trading range between $3,000 and $4,000, to local highs of over $9,000. But as the cryptocurrency dubbed as digital gold’s bullish momentum begins to fade, the price of Gold…
Until recently, traditional investors have long viewed gold, silver, and other precious metals as the go to source of stability when the equities markets destabilize, although the advent of digital currencies, like Bitcoin (BTC), have ignited debates as to whether or not precious metals are still relevant tools of stability during times of market turmoil.…
The Prime Minister of Malaysia has called for the formation of a new currency backed by gold. Dr Mahathir Mohamad believes that a single sound currency in East Asian would help protect economies from manipulation caused by Forex traders. Mohamad also spoke about the influence of the US and how it was disadvantageous for the…
Although the crypto industry has changed dramatically in its decade-long lifespan, the narrative surrounding Bitcoin (BTC), along with its cardinal value proposition. has been steady, more or less. Yet, there have been a few nuances. Case in point, over recent years, proponents of the cryptocurrency have been wishy-washy with the asset being a Store of Value…
The CEO of asset management firm US Global Investors has given his opinions on the Bitcoin and wider crypto market, and how it relates to that of gold. Frank Holmes is of the belief that digital currencies are fast becoming an “alternative asset class”, just like the shiny, precious metal. However, Holmes has apparently not…
Leading crypto asset management firm Grayscale Investments has recently launched a campaign attempting to dissuade investors from gold whilst demonstrating the advantages of digital assets such as Bitcoin. The latest effort depicts Richard Nixon with words to the effect that gold wasn’t good enough for Nixon, so it isn’t a good investment today. The problem…