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The prices of bitcoin and gold have reached a monthly average correlation of 70%, an all-time-high, according to data analytics firm Skew. The previous peak of just under 60% was reached earlier on in the second quarter of 2020. Skew said the rising correlation supports the idea that bitcoin (BTC) is a store value, particularly […]
The post Bitcoin and Gold Correlation Reaches Record High 70%, Bolstering BTC’s Store of Value Credentials appeared first on Bitcoin News.
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Hong Kong investors are moving their gold offshore as China’s new national security law prompts fears of financial censorship. Some 10% of private holdings have been moved to safer jurisdictions such as Singapore and Switzerland since the beginning of protests in Hong Kong last year. In a recent interview, Joshua Rotbart, head of Hong Kong-based […]
The post Investors Move 10% of Their Gold From Hong Kong Amid Financial Censorship Fears appeared first on Bitcoin News.
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Investment strategist Raoul Pal says bitcoin is the only asset with a growth rate that outpaced that of G4 central bank balance sheets. Pal says G4 central bank balance sheets have grown much faster than traditional safe-haven assets like gold. A founder and CEO at Global Macro Investor (GMI) Pal made the remarks in a […]
The post Only Bitcoin Outpaces G4 Central Bank Balance Sheet Growth appeared first on Bitcoin News.
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Gold bull Dennis Gartman is moving out of gold because the market has become “too crowded.” In an interview with Bloomberg on Thursday, Gartman said he was “social distancing” from the precious metal until such a time when the price falls to around $1,775. “Too many people all of a sudden are involved in the […]
The post Bitcoin an Option, as Dennis Gartman Says He’s Exiting ‘Crowded’ Gold Market appeared first on Bitcoin News.
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Max Keiser has predicted that bitcoin’s current bullish pattern will lead toward a price of $28,000. While the bitcoin bull does not give a timeframe when this is likely to happen, he believes that, thanks to relentless government money printing, the benchmark cryptocurrency will eventually test $100,000. But not before some correction. “$28,000 is in […]
The post Bitcoin’s Current Breakout Sets It up for $28,000, Headed for Six Figures – Max Keiser appeared first on Bitcoin News.
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About 60% of bitcoin investors are willing to hold their coins until they die if the price fails to breach the key $10,000 level. Now that’s according to a Twitter poll by Peter Schiff. The gold-bug asked bitcoin ‘hodlers’: “How much longer does the price of #Bitcoin have to stay below $10,000 before you will […]
The post Survey: 60% of Bitcoin Investors Will Die With Their BTC If Price Stays Below $10,000 appeared first on Bitcoin News.
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Swiss crypto financial firm Bitcoin Suisse has added gold, silver, and platinum to its platform, allowing users to trade the precious metals against both bitcoin (BTC) and ether (ETH), as well as five other major fiat currencies. The precious metal trades are available for 24/7 trading with immediate cash settlement, the company announced on May […]
The post Bitcoin Suisse: Users Can Now Trade Gold Against Bitcoin and Ethereum appeared first on Bitcoin News.
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Bitcoin will mature into a gold-like store of value this year, according to the latest projections by Bloomberg. The financial magazine’s report, “Bitcoin Maturation Leap,” notes that the cryptocurrency is poised for a bull run, after being temporarily dragged by the coronavirus-induced stock market tailspin. With its correlation to gold jumping to all-time highs, BTC […]
The post Bitcoin to Be Digital Gold in 2020, Says Bloomberg Report appeared first on Bitcoin News.
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Satoshi Nakamoto has been an enigma for well over a decade and there’s been a number of suspects and self-styled Bitcoin inventors. One particular suspect is the computer engineer Wei Dai, the creator of the b-money system and the Crypto++ cryptographic library. Since the Bitcoin network was launched in 2009, a number of people have […]
The post The Many Facts Pointing to Wei Dai Being Satoshi appeared first on Bitcoin News.
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Extreme volatility. Sudden loss of value. A purported store of value. An economic hedge. An alternative to gold. On the face of it, bitcoin and oil have a lot in common. Both markets have been buffeted by the covid-19 economic downturn, but while bitcoin has stabilized, oil keeps plummeting. What does “digital gold” have that […]
The post Liquid Gold vs Digital Gold: Why Bitcoin Beats Oil in the Current Climate appeared first on Bitcoin News.
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