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.”