Bitcoin Aug 01, 2020

Will Bitcoin replace gold as a “traditional asset in a safe haven”? Experts argue

There is a lot of madness going on both traditional and cryptocurrency markets: for the first time in several months, Bitcoin has surged, and crypto investors have taken advantage of this opportunity.

Why is BTC growing

Nigel green, CEO and founder of financial consulting company deVere Group, drew attention to the growing popularity of PTS in the cryptocurrency market and boldly stated on his Twitter platform that the cryptocurrency is potentially going to ``knock gold out of its long-standing position``, being a reliable safe haven asset. In traditional stock markets, when stocks fall in price and inflation increases, there is a tendency to invest in gold, considering it a safe investment.

In addition, green clarified and tweeted that the value of Bitcoin in the trading market is ``rising along with gold amid tensions between the US and China.``

As socio-political tensions and power struggles between the US and China, the world's two largest economies, increase, green says there is great potential for Bitcoin to grow even more if new crypto investors and established BTC bulls take matters into their own hands, and move away from traditional stocks.

As if to prove the truth of his educated statement, it seems that investors are very much moving away from traditional stock markets, and the world economy is going up, because of the ongoing pandemic and political battles. Therefore, many believe that Bitcoin is increasingly becoming a safe haven asset.

Gold is also skyrocketing

Gold is also skyrocketing

The price of gold also rose, much to the surprise of experts. Many financial investors suggest that this phenomenon may be related to the aggravation of us-Chinese trade and political tensions. Others looked at the economic stimulus package that the US is planning to provide, and as an explanation they pointed to the fall of the us dollar, as a result of the mass printing of money.

Therefore, investors may more often pay attention to gold and cryptocurrencies as hedging instruments, which leads to an increase in the value of both financial assets.

Gold surprises everyone

The jump in gold came as a surprise to many market experts. This is regarded as an unusual phenomenon because stock prices have also risen recently, after falling in early March when COVID-19 began to spread across the US.

Usually seen as a safe haven when stocks fall or when inflation rises, the rise of this metal comes as a shock to many because neither of the two phenomena mentioned is currently happening.

Gold defender and CEO of Euro Pacific Capital, Peter Schiff, does not seem to share green's views that the cue ball is a safe haven asset.

On July 27, he tweeted that in light of COVID-19 and the resulting economic downturn, the US Federal reserve ``will continue to print dollars until the dollar collapses.`` In his opinion, gold investors are fully aware of this mass-printing strategy, and therefore it will continue to grow.

What's next for BTC?

As for Bitcoin, since its recent breakout over the $ 10,000 milestone on Monday, cryptocurrencies are now interested in the first crypt reaching the next mark - $ 10,500.

SPACEBOT

Author of the article

Registration on SPACEBOT is available only via the referral link which you can get after bonding 100 coins to the pool.

In order to get the link through the Telegram bot:
1. Send 100 coins to the wallet given by the bot: Wallet – Deposit
2. Bond 100 coins to the pool: Wallet – Deposit for paramining
3. Skip to ‘Affiliate program’ section and copy your referral link
4. Now you can share your referral link and invite new users

In order to get the link through iOS/Android:
1. Send 100 coins to the wallet given by the App: Home screen – Refill
2. Bond 100 coins to the pool: Home scren – Bond
3. Skip to ‘Affiliate program’ section and copy your referral link
4. Now you can share your link and invite new users

To install the App

1. Follow the link:

https://apps.apple.com/ru/app/spacebot/id1498907599

2. Сlick ‘Install’ and follow the standard steps to install the App on your device

3. If you are a new user – press ‘Register’ (you need to indicate your inviter; find your inviter`s ID or get a referral link in the ‘How to register a new user’ section)

4. If you already have your SPACEBOT Telegram account you need to link it to email. You may find how to do it in ‘How to link email to your SPACEBOT account?’ section.

To install the App:
1. Follow the link:

https://play.google.com/store/apps/details?id=space.bot.mobile

2. Press ‘install’ and follow the standard steps to install the App on your device.

3. If you are a new user – press ‘register’ (you need to indicate your inviter; find your inviter`s ID or get a referral link in the ‘How to register a new user’ section)

4. If you already have your Telegram SPACEBOT account you need to link it to email. You may find how to do it in ‘How to link email to your SPACEBOT account?’

Top up your balance with Telegram bot:
1. Go to ‘Wallet’ section
2. Press ‘Deposit’
3. Copy the wallets sent to you (be careful not to copy extra symbols)
4. Transfer coins to the copied wallet adress

Top up your balance with iOS/Android App:
1. Press ‘Top up’ on the mail screen
2. Copy the wallets sent to you (be careful not to copy extra symbols)
3. Transfer coins to the copied wallet adress

* Track transaction on the blockchain:
PRIZM – https://prizmexplorer.com
BIP/BTT – https://explorer.minter.network

**Please note that depositing of coins requires certain number of confirmations in the network and it takes time to process a transaction with our algorightm

***Also note that many exchanges and wallets services carry out transfers with delay (on some exchanges it can take up to 72 hours), and you shouldn`t worry since this is a stadard procedure.

For bonding coins to the pool with Telegram bot:

1. Top up your balance (you will find how to do that in ‘How to top up your balance’ section).
2. Skip to ‘Wallet’ section
3. Press ‘Deposit for paramining’
4. Enter the amount*, note that this amount should be available in your main account
*For the first bonding: no less than 100 coins
For the second and subsequent bondings: at least 1 coin.
5. Confirm the amount, and the bot will send you a notification about the successful bonding (or ‘error’ will appear in case you have insufficient funds or the amount was entered incorrectly).

For bonding coins to the pool with iOS/Android App:
1. Chose the cryptocurrency on mail screen by scrolling to the left (PRIZM/BIP/BTT)
2. Once you`ve chosen the coin press ‘Bond’ on home screen
3. Enter the amount*, note that this amount should be available in your mail account
*For the first bonding: not less than 100 coins
For the second and subsequent bondings: at least 1 coin.
4. Confirm the amount, and the bot will send you a notification about the successful bonding, and your balance in the ‘Bonded’ field will change (or ‘error’ will appear in case you have insufficient funds or the amount was entered incorrectly).

**Attention! The first bonding of coins will take 24 hours, and only then the mined coins will be assessed.
The second and subsequent bondings will take 48 hours. It means that after the second bonding to the pool the mined coins will be assessed in 48 hours.

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