Bitcoin

when

According to Coindesk, the copper-gold ratio has fallen to its lowest level since November 2020, indicating volatility for Bitcoin (BTC) cryptocurrencies.
The copper-gold ratio, seen by experts as a measure of the economic situation and investor risk appetite, fell over 8% this month, reaching its lowest level since November 2020.
Experts stated that this decline in the copper-gold ratio indicates a downward trend for risky assets, including cryptocurrencies.
Experts stated that this decline points to potential downward volatility for Bitcoin and cryptocurrencies until signs of economic stability emerge, and said that, historically, the decline in the copper-gold ratio indicates increased economic uncertainty and possible decreases in interest rates.
In its chart analysis, data tracking site MacroMicro states that as the global economy grows, the copper/gold ratio increases and stock markets tend to rise. Conversely, when economic uncertainty increases, investors turn to gold as a risk hedging tool and the demand for gold increases, causing the copper-gold ratio to decrease.
In summary, considering the falling copper-gold ratio, Bitcoin may be subject to a downward price fluctuation.
<blockquote>
 “As the global economy expands, the ratio of copper to gold increases and stocks also rise. When economic uncertainties increase, the demand for gold for protection increases and the ratio of copper to gold decreases. This causes a decline for Bitcoin and crypto.
 “Historically, a falling copper-gold ratio indicates a downward trend in interest rates, more specifically the 10-year Treasury bond yield.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/attention-bitcoin-btc-investors-this-data-points-to-a-downward-trend-it-has-fallen-to-its-lowest-level-since-2020/" rel="noopener noreferrer nofollow">Attention Bitcoin (BTC) Investors! This data points to a downward trend: it has fallen to its lowest level since 2020!</a>

Attention Bitcoin (BTC) Investors! This data points to a downward trend: it has fallen to its lowest level since 2020!

Bitcoin Sistemi EN

Alte articole publicate pe 24 iul. 2024

IBIT stock soars 20% in 2 weeks as Bitcoin ETF sees $534M inflows

Are Inverse Bitcoin ETFs the New Investment Trend in Asia? Hong Kong Leads the Way

Lummis Report: Bitcoin Mining Tax Threatens U.S. Energy Grid Stability

A Trader Lost Millions In Jeo Boden (BODEN) Meme Coin Gamble

Is a Trend Reversal on the Horizon? Unpacking Bitcoin’s Charts and the Crypto Fear and Greed Index

Dogecoin Founder Cements Bet On Billion-Dollar Lawsuit Against CrowdStrike

Join our free newsletter for daily crypto updates!