Why thrive while bitcoin takes a blow

Last week, gold crashed a sign of $ 3,000 for the first time in history.

Some analysts believe that the gathering of precious metals can indicate a shift in investor morale as Global Markets restores economic uncertainty.

Why is gold pumping?

In a long time string In X, Markets Capital Markets is highlighted that Kobeissi’s speech is the most prominent factors that prompted the rise of the last gold. According to them, the highest level ever is not a coincidence but a perfect storm. Geopolitical tensions, high inflation, and investor journey to safety have contributed to the performance of high gold.

Central banks around the world store precious metals at record levels, where purchases exceed 1000 tons for three consecutive years. In the opinion of the analysts, this institutional demand greatly reduced the offer, adding an upward pressure on the price of the original.

The demand for physical gold is also RiseWith stocks in a main cellar rising 115 % in just two months. Observers believe that this is a sign that investors are rushing to safe assets amid fears of recession, inflation and spending on the United States’ deficit. Moreover, the annual spending of the US government of $ 7 trillion, similar to the levels that were last seen during the epidemic, have eroded confidence in the Fiat currencies.

But the most surprising factor may be the elasticity of gold against the US dollar. The famous critic Bitcoin and the golden golden lawyer Peter Chef recently indicated that the rise of the metal came despite the power of the strong US dollar.

Historically, when the dollar’s performance was good, it tended to reduce the price of gold, but last year, the commodity ignored this trend, and rose alongside high interest rates and strong greenery. Chef has argued that this unusual behavior can indicate a collapse in traditional market links, as gold now works as a real safe haven.

Bitcoin struggles: Why don’t you keep pace?

Interestingly, bitcoin, one of the assets, often described as “digital gold”, has not accompanied its material counterpart. According to Chef, in 2021, while BTC can buy 36.3 ounces of gold, today, this number decreased to 27.7 ounces, which means that the price of the encrypted currency has He fell 24 %.

Chef, who deals with the CEO of the strategy, smiled Michael Celor, whose company was in the case of BTC to buy for several years so far: “Gold is the APEX predic predic.”

Kobeissi’s speech also suggested that Gold for 4000 years is difficult to overcome 4000 -year -old Gold Store, especially with BTC barely 16 years old and still finds his foot.

The value of the cryptocurrency has decreased in a lock with the Nasdaq Stock Exchange, apparently reinforces Chef’s allegations that it behaves more like high -risk technology stocks and less like digital gold. The explicit economist feels that if the heavy technology index enters the bear market, Bitcoin may lead to sharp losses.

However, despite the recent defects that witnessed BTC’s decline to the lowest level in four months, some experts rejected any relationship with traditional markets, claiming that the original had been historically moved independently.

Currently, Cryptoquant market monitors said that all evaluation measures for cryptocurrencies, including the Bitcoin Bull-Bear Market Index and the market value of the achieved value, shows that they are in a declining area.