Today the price of gold hit a new record-high at $2,008 and the asset is now in the price discovery phase.
The precious metal appears to be rallying due to the declining U.S. dollar and this could also positively affect Bitcoin (BTC) in the medium-term due to the correlation between the two assets.
Bitcoin vs Gold price movements. Source: Skew.com
In trading, the term price discovery refers to when an asset’s price surpasses its previous all-time high. Given that gold is now seeking a new…
… Continue Reading at: cointelegraph.com [source]