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Gold Soars, Crypto Plummets: What Should We Buy Now?
Let's take a look at the data.
On January 19, $XAU the price gapped up and rose about 2% during the day, reaching $4690 per ounce, setting a new historical high. Meanwhile, the overall cryptocurrency market came under pressure, $BTC falling below $92,000, with a 24-hour decline of about 3%. In just one day, the performance of the two mainstream asset classes showed a clear divergence.
Until January 21, the upward trend in gold had not stopped, refreshing the record high to $4874 per ounce, with a daily increase of 1.5%. In contrast, Bitcoin fell below $88,000, with the daily decline expanding to 5%.
Within three days, gold continued to strengthen, while Bitcoin quickly retraced.
On January 19, $XAU the price gapped up and rose about 2% during the day, reaching $4690 per ounce, setting a new historical high. Meanwhile, the overall cryptocurrency market came under pressure, $BTC falling below $92,000, with a 24-hour decline of about 3%. In just one day, the performance of the two mainstream asset classes showed a clear divergence.
Until January 21, the upward trend in gold had not stopped, refreshing the record high to $4874 per ounce, with a daily increase of 1.5%. In contrast, Bitcoin fell below $88,000, with the daily decline expanding to 5%.
Within three days, gold continued to strengthen, while Bitcoin quickly retraced.