Gold prices have tanked during the Monday morning Asian trading session, compounding losses accumulated over the past week. On Monday, the price of gold quickly fell to its lowest level since March as a flash crash drove prices below $1,700 per ounce. According to TradingView, the price of the precious yellow metal plunged to $1,690/oz during Asian trading hours on Monday. The price of gold has since posted a minor recovery, last changing hands for $1,742/oz at the time of writing. Gold is currently down by 4% over the past seven weeks and 8.7% since trading above $1,900/oz at the …

Hedge fund manager Ray Dalio says he’s still bullish on Bitcoin (BTC) but has a greater penchant for gold. Speaking to CNBC on Wednesday, the billionaire investor admitted to owning a “very small amount” of Bitcoin but said that he would choose gold if he had to make the choice between the two. “If you put a gun to my head, and you said, ‘I can only have one.’ I would choose gold.” But he added that he sees Bitcoin as digital gold and that it remains an important way to diversify. “There are certain assets that you want to …

Rich Checkan, president of Asset Strategies International (ASI), has described central bank digital currencies (CBDC) as a product that was “concocted in hell by Satan himself.” ASI was founded in 1982 and deals in alternative assets, such as precious metals, foreign currencies and pre-1933 United States gold coins, and offers a precious metals trading platform. Speaking during an interview with streaming financial news provider Kitco News on Tuesday, Checkan slammed CBDCs due to the threat they posed to individual privacy, noting they give the state the ability to monitor every transaction you make and track your entire life. “I think …

A recent sell-off in the Bitcoin (BTC) market pushed its prices below the key psychological support of $30,000. While the cryptocurrency's move downhill prompted many analysts, including Luno exchange's Vijay Nayyar and Kinetic Capital's Jehan Chu, to predict a further depressive move below $25,000, Anthony Pompliano offered a contrasting bullish outlook. The Morgan Creek Digital Assets founder pitted risk-on markets against the fears of the fast-spreading Delta variant of COVID-19. He noted that governments, on the whole, would introduce "more aggressive monetary stimulus" programs should the new coronavirus strain spread at the scale of its Alpha version. "History is not …

Apple co-founder Steve Wozniak has reportedly reiterated his positive stance on Bitcoin (BTC) despite not being a Bitcoin investor himself. A vocal proponent of Bitcoin who once called it the “only digital gold,” Wozniak reportedly referred to Bitcoin as a “miracle of technology” and a “unique mathematical formula” at Talent Land Digital 2021, a major virtual event in Latin America devoted to technology and innovation. According to Thursday a report by local news agency El Sol de México, the Apple co-founder has also indicated that Bitcoin is better than gold, implying that it’s easier to mine Bitcoin blocks than finding …

Gold is set to outperform Bitcoin (BTC) in the second quarter of 2021. An ounce of gold has surged from $1,707.45 on April 1 to over $1,750 in the still-running June 30 session. That marked a roughly 3.9% jump over the quarter. Meanwhile, Bitcoin has plunged by more than 40% to below $35,000 after topping out near $65,000 in mid-April, all in the same period. The inverse correlation between Bitcoin and gold markets surged specifically in April and May 2021. Analysts at JPMorgan noted in May that large institutional investors rotated their money out of the overvalued crypto markets to …

Despite BNY Mellon’s entrance into Bitcoin (BTC), the CEO of one of the company’s asset management units is still sceptical about major risks associated with the world’s largest cryptocurrency. Francesca Fornasari, head of currency solutions at BNY Mellon’s subsidiary Insight Investment, believes that Bitcoin may not be suitable for most institutional investors due to extreme volatility, low liquidity, governance issues and environment-related risks. In a Tuesday Bloomberg interview, Fornasari said that Bitcoin can be more difficult to evaluate than gold due to its massive price swings, which further complicates its possible reactions in an inflationary environment. “At the end of …

Bitcoin (BTC) is definitively the "new gold" for the third richest man in Mexico, Ricardo Salinas Pliego. In a tweet on June 27, Ricardo Salinas Pliego confirmed claims that he recommends Bitcoin as an investment rather than fiat currencies or gold. Pliego reiterates Bitcoin benefits Pliego, already well known as a Bitcoin proponent, has stuck by his conviction, furthering South America's newfound penchant for the largest cryptocurrency. "That’s totally right, Bitcoin is the new gold, but too much more portable, transport Bitcoin is so much easier than having your in pockets gold bars … and i know that I’m going …

Bitcoin (BTC) is on a “lower left to upper right trend” and its volatility should not scare investors, the former head of the New York Stock Exchange says. In an interview with CNBC on June 23, Thomas Farley revealed long-term convictions about Bitcoin and dismissed concerns over BTC price losses. Bitcoin: Going up, but not "up only" Coming a day after CNBC pundit Jim Cramer admitted that he sold his Bitcoin stash, suggesting that BTC/USD was going as low as $10,000, Farley provided some much-needed mainstream bullishness. “With respect to the recent price moves, I’m kind of sanguine about them …

Jim Cramer, the host of CNBC’s Mad Money, announced he has liquidated nearly all of his Bitcoin (BTC) holdings. Speaking on June 21 during an interview with CNBC’s Squawk Box on the Street, Cramer asserted that BTC is ”not going up because of structural reasons,” highlighting China’s renewed regulatory clampdown. Cramer stated that China’s central government understands Bitcoin to be a “direct threat” to the regime and its capacity to control monetary flows within the country, describing the cryptocurrency as “as a system that’s outside of their control.” The escalating Chinese crypto mining ban has sent Bitcoin’s hash rate tumbling …

Bitcoin (BTC) is an uncorrelated asset, or so the narrative used to go. For much of Bitcoin’s lifetime, it existed as something of value to a very small group of people. Now, awareness and demand are accelerating rapidly. So, what does this mean for the status of BTC as a supposedly uncorrelated asset? That Bitcoin was an uncorrelated asset isn’t just conjecture — the numbers back it up. According to data compiled by VanEck in early 2021, there was almost no discernible pattern between the movements of Bitcoin and other markets, including S&P 500, bonds, gold, real estate and others, …

Bitcoin (BTC) price dropped another notch to $37,365 today after a failed attempt by bulls to retake the $40,000 level. The renewed slump comes as the stock market and commodities also pulled back as a result of Federal Reserve Chair Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation which led to pdeclines for both Bitcoin and gold. Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC climbed from $38,200 in the early trading hours on Thursday to a high above $39,500 by midday before being pummeled down to a low …