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The Universal Protocol Alliance — a consortium of crypto firms comprising Bittrex Global, Ledger, CertiK, and Uphold — has launched a token backed by the Western Australian government-owned Perth Mint.The tokens, dubbed ‘Universal Gold’ or UPXAU, can be purchased on Uphold and spent using the firm’s debit card. Investors can
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Gold bull Dennis Gartman is moving out of gold because the market has become “too crowded.”In an interview with Bloomberg on Thursday, Gartman said he was “social distancing” from the precious metal until such a time when the price falls to around $1,775.“Too many people all of a sudden
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The dollar index dropped to it's lowest level since May 2018. Source
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U.S. investment bank Oppenheimer’s analyst says gold is “extended” and has “run up a bit,” bringing attention to bitcoin instead. He sees the cryptocurrency reversing its downtrend from the $20K peak, benefiting from the dollar’s weakness.Oppenheimer Analyst on Bitcoin vs GoldAri Wald, head of technical analysis at Oppenheimer, a
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Since Black Thursday, Bitcoin (BTC) has become a better hedge against the U.S. dollar than gold. At the same time, its correlation with the S&P 500 Index reached unprecedented highs.Correlations chart. Source: Coinmetrics.Diverging paths after Black ThursdaySince the disintegration of the Bretton Woods system in 1971, investors have looked to
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Goldman Sachs has warned that the U.S. dollar may lose its status as the world’s reserve currency. The investment bank is bullish on gold as fears over governments debasing their fiat currencies grow and real interest rates are pushed to all-time lows.Goldman Sachs’ Dollar and Gold PredictionsAmerican investment bank
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Bitcoin retreated by more than 2.5 percent in the early London trading session on profit-taking sentiment. The plunge almost
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The price of gold reached a new all-time intraday high of $1,942 Monday, extending a rally that started in 2019. DisclosureThe leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating
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Bitcoin has at last broken convincingly above the all-important $10,000 mark, but why has it struggled so much in recent months when gold has soared to an all-time high? Earlier this year, digital-asset investors were aflutter over the trillions of dollars of central-bank money injections in response to the coronavirus-induced global
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Gold is benefiting from the present uncertainty. But it is unclear whether gold prices will grow further and set new record highs. Bulls’ next target is $2,000.In early trading hours today, gold prices set new record highs. After trading slightly above the $1,900 level last week, gold has hit $1944.76
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