Bitcoin ETF

VanEck: Bitcoin Correlation to Gold Jumped in 2020 Amid Market Sell-off

Source Node: https://coinfomania.com/vaneck-bitcoin-correlation-to-gold-jumped-in-2020/?utm_source=rss&utm_medium=rss&utm_campaign=vaneck-bitcoin-correlation-to-gold-jumped-in-2020
Time Stamp: April 3, 2020 2:38 PM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

New York-headquartered investment management firm, VanEck has revealed in a new report that Bitcoin’s correlation to gold has risen significantly in 2020, especially during the recent broad market sell-off caused by the COVID-19 pandemic. According to the report published by Gabor Gurbacs, a Digital Asset Strategist at VanEck, Bitcoin’s correlation to gold has surged since the turn of the year and especially in recent weeks, further strengthening the debate the cryptocurrency is maturing as a safe-haven asset. Source (VanEck report) While the rest of the equity markets dipped in the