How Bitcoin Has Become a Classic Hedge for U.S.–China Trade War
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Autobot binary options Account active since. Investors appear to be treating bitcoin as a haven asset similar to gold, given the volume of cryptocurrency trading has increased during the conflict. Trading of bitcoin more than doubled during certain key moments of the trade war, the data showed —usually after tensions calmed. Both gold and bitcoin's bitcoin investment websites bots for crypto trading have experienced spikes eToro. The number of open positions in both bitcoin and gold have increased as the US-China trade war has escalated and the world's two largest economies have slapped tariffs on is bitcoin gold good cryptocurrency mining investment latest others' goods, Simon Peters, analyst at eToro, told Markets Insider.
Gold's scarcity, utility, and intrinsic value aren't affected by central banks' interest rate decisions.
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As a result, the invest in bitcoin diamond has historically served as a haven for investors clay trader cryptocurrency times of economic and political turmoil, Peters added. Bitcoin remains a more volatile asset than gold and faces additional risks, Peters said. However, investors appear to warming up to the cryptocurrency as a haven. Get the latest Gold price here. Learn more about the financial services industry.
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- In the week leading up to 23 January , Bitcoin fell by almost 4 per cent — coinciding with Wuhan, the Chinese city at the centre of the outbreak, suspending air and rail transport as it entered an effective quarantine period.
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- Investors appear to be treating bitcoin as a haven asset similar to gold, given the volume of cryptocurrency trading has increased during the conflict.
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