Despite the increased Worldwide pressure from the trade war, gold remains firm and presently surging to a record level of $3,200 each ounce and generating huge profits for investors. Because of that, investors shift to safe options like Gold is surging.
At the same time, CryptoQuant author Alex Adler Jr says more people are seeing Bitcoin as “digital gold.” Bitcoin has surged by 16% this year and is becoming a popular way to protect money during uncertain economic times.
U.S. Tariffs on China Rise to 145%
Expert Alex Adler expects that the recent price surge comes after a steep tariff increase by the U.S. government to introduce a further 125% tariff on Chinese imports, increasing the overall tariff to 145%.
At the same time, the administration also stated a 90-day stop on tariff rise for major countries; the target on China has disrupted the global market.
Adler also says this action has made investors more worried about the economy because the U.S. dollar is getting weaker. According to the reports, more people are buying gold to protect their money from risk.
Gold Becomes a Popular Safe-Haven Choice
In the past, gold has been considered a shield of wealth from inflation, elevating it to a top pick for investors amid market volatility. From the beginning of the year, its price has risen above 20%, mainly due to a surge in purchases from international central banks.
As the dollar gets weaker and worries about a trade war grow, more people are buying gold. Expert Axel Adler Jr. says that if the trade war gets worse, gold prices might go up even more.
Bitcoin: The “Digital Gold”
While gold is getting a lot of attention, Bitcoin is also known as “digital gold” and it is also going up. In the last year, Bitcoin has risen by 16%, showing good growth even with market ups and downs.
Right now, Bitcoin is rising slowly and is trading around $81,910, but it is still lower than its all-time high of $109,000. This rise shows that investors are looking for other ways to protect their money during uncertain times, just like they do with gold.
Read also:- Bitcoin and Ethereum Struggle While XRP Remains Unchanged: Top 3 Price Predictions
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
