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Bitcoin to Serve as Haven during Tough Times, Gold Fights off Rising Rates

Real US interest rates and Bullion have surged this year. For gold, the tightening rate cycles are not bearish. Read on.

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Bitcoin to Serve as Haven during Tough Times, Gold Fights off Rising Rates

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  1. Bitcoin to Serve as Haven during Tough Times, Gold Fights off Rising Rates According to Bloomberg News, the prices have risen to the highest since the beginning of June since tensions between Russia and the West over Ukraine have escalated, coupled with a spike in inflation in the United States, which is being recorded as the strongest in 10 years. Simultaneously, the real interest rate, which is a crucial driver of gold, has surged this year, countering the inverse correlation between the two. And when a comparison is drawn between different assets on whether Bitcoin is a better option for storing value, the digital currency or the cryptocurrency is falling behind, to say, at least for the time being. Before the demand for haven over Ukraine took over, to some observers, the resilience of bullion had been a mystery, especially when it came to the tightening cycle of the Federal Reserve. One of the main concerns was that the central bank in the United States could trigger a recession if it increases rates quite frequently and to a level that is higher than what is required to tame inflation. Gold wins over Bitcoin

  2. As there is weakening demand for cryptocurrency, gold is being benefited from it, which is often seen as an alternative to fiat hedge, as per chief global strategist at BCA Research Inc., Peter Berezin. There was a more than 3% gain in Bullion in the current year, while Bitcoin was found to nosedive by 16%. You can read the full content: https://businessupside.com/2022/02/23/bitcoin-to-serve-as-haven-during- tough-times-gold-fights-off-rising-rates/ -------------------------- Business Upside Email ID: support@businessupside.com Phone No.: +1-425-605-0775 Visit Us: https://www.businessupside.com/ Stay Connected Via: https://www.facebook.com/businessupside https://www.youtube.com/channel/UCuSkeS5oU- B2tRIBDYntmaw https://twitter.com/BusinessUpside1

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