Bitcoin Is The Best Performing Asset Recently Leaving Gold And Oil Way Behind

    Bitcoin has many investors looking at it. It has recently reached 2019 high of $9,400 and no other asset class is even close surpassing the gains made by Bitcoin. Bitcoin is up 140% since the start of the year. Many people are trying to speculate at why that is the case with reasons varying from the U.S./China trade war to Facebook’s new stablecoin.

    According to Mati Greenspan of eToro, the Federal Reserve might be the biggest actor of them all. When Federal Reserve officials meet this week they are expected to clear the way for a July interest rate cut by downgrading their economic forecast.

    Oil prices fell considerably into the bear market territory after the US factory and housing data showed the world’s largest economy is slowing down faster than expected. The trade war is starting to dwindle away at US data. The oil markets are now not balanced mainly due to falling demand.

    The US economy is slowing down and expectations for the signal of pre-emptive policy easing has supported higher gold prices. Gold’s rally is on pause but could see bullish momentum return as long as the Fed has clear communication in signaling the end of its patient period.

    Given below is the Gold vs Bitcoin chart and it looks like Bitcoin has been following Gold very closely.

    Many people try to pit Bitcoin against gold while in reality, they are on the same side of the war against fiat currencies. In doing so, the Bitcoiners are battling with gold bugs trying to make the other side see why their side is wrong but in doing so both sides are losing a valuable ally.

    Bitcoin appears to have prevented any major selloffs, as the core argument that mainstream acceptance and security concerns will derail institutional investors, has been alleviated.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$8,958.8589 change ~ 0.17%

    Coin Market Cap

    $162.77 Billion

    24 Hour Volume

    $6.82 Billion

    24 Hour VWAP

    $8.9 K

    24 Hour Change


    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Sritanshu Sinha
    Sritanshu Sinha
    Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    Lawmaker Proposes Bill For State-Chartered Institution For Blockchain & Crypto Innovations

    An Oklahoma lawmaker has come forward with the proposition of creating a financial institution chartered by the state and that functions as a central...

    Block.One's ‘Voice' Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

    During its June ICO, had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.