Source: Bloomberg
Bitcoin and gold, which set a record high, or is issuing signals that are different from the global market risk appetite.
Bitcoin and Gold Doubles hit a record high, marking the first time since Bitcoin entered the public view more than ten years ago.But obviously these two assets are considered driven by different factors -gold as a hedging tool, and Bitcoin is considered to be pure speculative. As for whether it has other investment attributes, there is a fierce controversy.
Bitcoin has risen by nearly 50%this year, thanks to the Bitcoin spot ETF that has recently landed in the United States.However, rising gold prices may be regarded as a defensive position established for geopolitical tensions or the global stock market that may fall after the rise of the global stock market.
One of the methods to understand this problem is to consider traders who chase the short -term kinetic energy of various asset categories, Chris Weston, the research director of PepperStone Group LTD..
"The overnight gold trading is very active, and the transaction volume is very large -I received a lot of customers in the question," he said."Short -term investors are buying while, and we have seen this in Bitcoin."
Bitcoin and gold are both beneficiaries expected to be loose monetary policy.The drop market shows that the Federal Reserve ’s interest rate cut in June is 62%, and it is 58%at the end of February.
Bitcoin soared to a record of $ 691.95 in the US time on Tuesday, breaking the peak reached in November 2021, and then fell to about $ 63,300 at noon on Wednesday on Wednesday, Singapore time.
The price of gold rose to $ 2141.79 per ounce on Tuesday, breaking through the early high point set in early December.Gold has risen nearly 5%over the past five trading days.
"The story of cryptocurrency can be associated with the stock market and a wider risk preference," Kyle Rodda, a senior market analyst at Capital.com Inc.."Oynaming is coming from the rolling, and the irrational adventure behavior is evident, which is exactly the same as the situation in some areas in the stock market."
