Bitcoin faces fresh pressure as US dollar crushes gold, risk assets

Bitcoin (BTC) hit daily lows on the July 5 Wall Street open as the U.S. dollar saw a violent surge higher.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView USD sets yet another 20-year record Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating to $19,281 on Bitstamp as the Independence Day long weekend concluded with a bump. The pair had seen last-minute gains the day prior, these fizzling as the return of Wall Street trading was accompanied by USD strength laying waste to gains across risk assets and safe havens.…

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5 reasons why Bitcoin could be a better long-term investment than gold

The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar.  For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually a better investment than gold? Let’s take a look at some of the conventional arguments investors cite when praising gold as an investment and why Bitcoin might be an even better long-term option. Value retention…

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21Shares launches hybrid Bitcoin and gold ETP to enable inflation hedge

21Shares, a major issuer of cryptocurrency exchange-traded products (ETP), is launching a new ETP tracking a mix of Bitcoin (BTC) and gold. The Switzerland-based firm on Wednesday announced the launch of the 21Shares ByteTree BOLD ETP (BOLD), a new product aiming to provide inflation protection by tracking an index providing risk-adjusted exposure to both BTC and gold. Listed on the SIX Swiss Exchange, the new hybrid ETP is subject to monthly rebalances according to the inverse historic volatility of each asset. At launch, BOLD comprises 18.5% of BTC and 81.5% of…

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Bitcoin ‘buy’ signal excites as dollar, gold extend losses, BTC price heads past $41.5K

Bitcoin (BTC) closed above a crucial level into April 20 as the daily chart offered a long-awaited “buy” signal. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: Bitcoin is a buy at $41,500 Data from Cointelegraph Markets Pro and TradingView confirmed a daily close at $41,500 on Bitstamp for Tuesday. A strong performance, the sustained gains meant that fresh upside should be incoming, according to one trader eyeing a buy/sell indicator on daily timeframes. Last Sell Signal was at 46K$BTC Dumped 38KNow Buy Signal at 41K. Note: $BTC Needs Daily…

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Bitcoin climbs above $41K on Wall Street open as gold dives, dollar cements highs

Bitcoin (BTC) reclaimed $41,000 on April 14 as the first day of Western stock market trading after Easter painted a more bullish picture. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysis calls for caution on BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking above $41,000 during Tuesday, reaching five-day highs on Bitstamp. In a refreshing change to the gloomy atmosphere over the holiday period, the largest cryptocurrency began to copy what gold had achieved days prior, the latter since declining from $1,998 to $1,960 per ounce at the…

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BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high

Bitcoin (BTC) is in line for a relief bounce but still risks dropping all the way to $30,000 before May, a new analysis warned on April 18. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $30,000 dive is April “risk” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $39,000 on April 18 as bearish prognoses for the pair mounted. After losing $40,000 support overnight into April 18, Bitcoin faced thin liquidity in the absence of United States and European equities trading, thanks to the Easter weekend. For popular trader…

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Proof of integrity? Gold industry wants blockchain to solve its biggest problems, March 25–31, 2022

As Bitcoin (BTC) continues to eat away at gold’s market share, the bullion industry is looking to blockchain — the technology first made famous by BTC — to solve its most enduring challenges. How’s that for irony? Someone should really check on Peter Schiff.  Speaking of Bitcoin, a MicroStrategy subsidiary confirmed this week that it plans to buy more “digital gold” through a crypto-collateralized loan. Terraform Labs CEO Do Kwon also ramped up his Bitcoin purchases to provide solid backing for Terra’s UST stablecoin. This week’s Crypto Biz takes a…

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Gold industry taps blockchain for supply chain management and fraud prevention

Some of the most prominent organizations in the gold industry have joined forces to launch a new “integrity program” that utilizes blockchain technology for supply chain management — a move that’s intended to help market participants verify the authenticity of their bullion. London Bullion Market Association (LBMA) and the World Gold Council (WGC) announced Monday that they are collaborating to develop an “international system of gold bar integrity, chain of custody and provenance” that’s based on blockchain technology developed by companies aXedras and Peer Ledger. The ledger will be used…

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Tokens pose lesser risk than gold and oil for UK investors: Survey

A survey on investors across the United Kingdom has revealed a growing interest in the new asset classes that threaten to overshadow traditional finance — driven by factors such as ease of access and an adolescent crypto market.  Among the 2000 UK residents that were surveyed by OnePoll via Tokenise, 81% of the responders chose tokens as the safer and more secure alternative to traditional investments such as gold, oil, shares and real estate: “Driven by a difficult climate for traditional investment vehicles due to the pandemic, low-interest rates and…

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