CandleFocus Bitcoin Decouples for Gold. Key Reason Why
2024-09-13
Author: Content Editor
Bitcoin has decoupled from gold as gold reaches a new record peak, while Bitcoin is down from its previous high. This is due to a risk-averse interest rate environment, where investors are favoring traditional safe-haven assets like gold. Meanwhile, Bitcoin has only seen a modest 1% increase in the past 24 hours and remains significantly down from its record high. Prominent financial commentator Peter Schiff has joked about gold's luck and gloated over Bitcoin's underperformance. Schiff also expressed the opinion that buying Bitcoin in 2024 would be too late.
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