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Transcript:
0:00:00 Gold Skyrockets as Bitcoin Price Plummets, Which Wins Battle for Economic Hedge?
0:00:05 This update is brought to you by "CoinCheckup News Updates" and was originally published on "NewsBTC".
0:00:11 But as the cryptocurrency dubbed as digital gold’s bullish momentum begins to fade, the price of Gold has begun to climb closer to reaching multi-year highs in the face of mounting fears over an impending global economic storm on the horizon.
0:00:24 In recent weeks, Gold’s reign as the preferred hedge asset during economic downswings was given its first real run for its money.
0:00:31 As concerns grow surrounding the continued trade war between the USA and China, and the effect the two superpowers might have on the greater global economy.
0:00:40 As investors in the stock market and other traditional markets seek to de-risk and protect capital from the potential crash many financial analysts are predicting, safe-haven assets such as Gold are typically increasingly held as a hedge.
0:00:53 As major central bank balance sheets started diminishing, volatility started increasing.
0:00:58 Central banks continue to have significant impact on financial markets.
0:01:03 That’s all changed this week, as Bitcoin price has finally begun to correct after a break of the parabolic rally that signaled the end of the bear market.
0:01:11 At the same time, Gold, the safe-haven asset that investors look to to protect capital, has finally started to grow in value once again.
0:01:19 Gold is skyrocketing today!!
0:01:21 Now not far from its multi-year highs.
0:01:24 For reference.
0:01:25 With Gold picking up momentum while Bitcoin’s wanes, the effectiveness of Grayscale’s marketing efforts must be called into question.
0:01:33 Investors aren’t dropping Gold, as the campaign suggests.
0:01:37 In fact, the opposite may be happening as crypto investors have increasingly become exposed to Gold as an opportunity for portfolio diversification.
0:01:45 Greenspan’s own eToro offers CFD contracts for Gold, and recently Bitcoin-based margin trading platform PrimeXBT added spot contracts for Gold and Silver as part of an expansion into forex, commodities, and more, as demand among crypto investors rises.
0:02:01 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: "NewsBTC", who originally published this news update on their website.
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