What may or may not have been a spoil top last week in the price of gold seems to have benefited Bitcoin (BTC) and that trend could continue.
Already among the global assets of better performance in recent months, the Gold rally fed on new heights in the weeks after the liberation day of President Trump in early April.
The price finally reached its maximum point above $ 3,500 per ounce on April 21, with Bitcoin at that time changing from hands to $ 87,000, approximately plan from the day of release, but lower in approximately 20% of its great record success in January.
Since then, gold has fallen almost 10% at its current price just above $ 3,200 per ounce. At the same time, Bitcoin has recovered around 10% to a maximum of two months of $ 97,000.
“I think Bitcoin is a better coverage than gold against the reallocation of strategic assets outside the United States,” said Standard Chartered’s Geoff.
Kendrick took note that the ETF entrance situation has turned along with the price, with money aimed at Bitcoin funds that passed beyond the gold funds.
In addition, Kendrick said, the last time Bitcoin’s ETF tickets had such a wide margin about gold was the week of the United States presidential elections. Two months later, the price of Bitcoin had increased more than 40% to more than $ 100,000.
