According to multiple experts, one possible reason for Bitcoin’s remarkable recent price rise are massive investor outflows from another popular inflation hedge: gold.
Spot gold swooned over the past week, falling 4.62% to $1,857. The asset previously had been surging in unison with Bitcoin, which is up over 40% from $28,000 lows last week.
In a Tweet on Friday, Charlie Morris, founder and CIO at ByteTree Asset Management, said that the pullback in gold might be attributable to investors…
… Continue Reading at: cointelegraph.com [source]