Bitcoin has established itself in the status of a safe harbor, approaching in importance to gold

In the eyes of investors, bitcoin and gold have become the only risk-saving tools.

Analysts agree that bitcoin has recently unambiguously “pulled itself up” in degree of significance to gold. Now there is only one step left before Nick Sabo predicted that the central banks of an increasing number of countries in the world will gradually move away from gold and buy cryptocurrencies , in particular Bitcoins.

Economic columnist Die Welte Holger Scheipitz writes:

“Bitcoin is increasingly on the track, where it is viewed as a tool for saving money and digital gold, which is associated with the irrational and politically motivated strategy of central banks [Western countries] to maintain negative or lower interest rates for a long time. Digital currency was at the point of its perception, when it is already considered as an analog of physical gold. As a result, both assets, gold and bitcoins, reached key thresholds in June, $ 10,000 and $ 1,400, “working” on the market already in tandem. ”

#Bitcoin gaining traction of the value of the digital market #Gold in this crazy politicized Central Bank world. Digital currency passes digital divide toward Gold. Both assets reached key thresholds in Jun, $ 10k & $ 1,400, now trade in tandem. pic.twitter.com/vrwzJlWsHl

– Holger Zschaepitz (@Schuldensuehner) July 4, 2019

This statement by no kriptovalyutnogo and classical analyst, very much worth it, given the fact that he recently stated that Bitcoin losing value, but the market did rise adept cryptocurrency and this skeptic.

The fact that gold and Bitcoin are turning into “twin brothers” was also noted by eToro senior analyst Mati Greenspan.

Bitcoin and gold moving in lockstep over the last month. pic.twitter.com/6PsqxBtWZJ

– Mati Greenspan (@MatiGreenspan) July 3, 2019

At the end of June, he discovered that both assets behaved very synchronously. As the expert noted :

“The level of correlation between the two assets is now at its maximum from 2016,” which means that “the integration of Bitcoin into the traditional financial market is also becoming the norm.”

The fact that Bitcoin is becoming as an important asset, like gold, has written and newspaper Financial Times, he saw that the reason to believe in Bitcoin really were:

“The rally of the cryptocurrency market occurred at a time when demand and prices for“ safe havens ”increased, that is, for the classics – the Japanese yen, the Swiss franc and gold. This circumstance reinforced the confidence of cryptocurrency supporters that Bitcoin gained a place in this series of benchmark assets for investors. ”

Publication date 07/07/2019
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