Bitcoin Rises to $11600+ as Gold Trades Above $2K For 1st Time

Big things happening this morning – gold breaks $2K and Bitcoin follows by hitting $11635 at the time of this writing

Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time

“Bitcoin is again acting like a macro asset, drawing bids amid a record rally in gold and a broad-based sell-off in the U.S. dollar.

At the time of writing, the cryptocurrency is trading at $11,624.63, representing a 3% gain on the day, according to CoinDesk’s Bitcoin Price Index.
Gold is trading at a record high of $2,040 per ounce, having surpassed the $2,000 mark on Tuesday.
Investors are flocking to gold on sinking inflation-adjusted bond yields and a weaker U.S. dollar, as noted by macro analyst Holger Zschaepitz.”

Master Asked on August 5, 2020 in Bitcoin.
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