The CEO of financial advisory giant deVere Group says Bitcoin’s recent price movements show the leading cryptocurrency is starting to solidify its status as a digital form of gold.
Nigel Green says he believes BTC will continue its 2019 rise and hit $15,000, reports The Independent.
“The world’s largest cryptocurrency, Bitcoin, jumped 10% as global stocks were rocked by the devaluation of China’s yuan as the trade war with the US intensifies.
This is not a coincidence. It reveals that consensus is growing that Bitcoin is becoming a flight-to-safety asset during times of market uncertainty.
Bitcoin is currently realizing its reputation as a form of digital gold. Up to now, gold has been known as the ultimate safe-haven asset, but bitcoin – which shares its key characteristics of being a store of value and scarcity – could potentially dethrone gold in the future as the world becomes increasingly digitalized.” Read More at DailyHODL...