danielcawrey
Long

Gold is Killing It - But Bitcoin Has Gained More The Past Month

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Traders are mostly buying bitcoin Wednesday, with the world’s oldest cryptocurrency going as high as $11,735 on spot exchanges such as Coinbase.

“I think we’ll hit $12,000 by Friday; there’s a lot of momentum in the market just now,” said Chris Thomas, head of digital assets for broker Swissquote. “Tuesday was a pause for breath, but we didn’t react negatively.”

While Bitcoin’s pace is picking up, gold , the original hedge against economic uncertainty, has been on an absolute tear. The yellow metal was up 1.1% and at $2,041 as of press time, hitting a fresh intraday high at $2,056. However, while gold has rallied 14% over the past month, bitcoin has done twice as well, up 28% during that same period.

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