This has occurred only twice in Bitcoin's 17-year history, including last May, which was during a period of significant market panic caused by US President Donald Trump's import tariffs.
On Friday, gold experienced a drop of 9%, marking its largest decrease in ten years. Before the decline on Friday, the precious metal hit an all-time high of $5,594.82 per ounce. On Monday, gold prices dropped nearly 10%, but later rebounded, increasing by 1.7% to reach $4,825 per ounce.
Bitcoin's value increased by 2% on Monday, reaching a price of $77,900.
In the last year, the price of gold has increased by 66%, whereas Bitcoin has decreased by 21%.
Despite higher price swings in recent trading sessions, JPMorgan analysts have repeated their prediction that gold prices are expected to reach $6,300 per ounce by the end of the year.
source: bloomberg.com
On Friday, gold experienced a drop of 9%, marking its largest decrease in ten years. Before the decline on Friday, the precious metal hit an all-time high of $5,594.82 per ounce. On Monday, gold prices dropped nearly 10%, but later rebounded, increasing by 1.7% to reach $4,825 per ounce.
Bitcoin's value increased by 2% on Monday, reaching a price of $77,900.
In the last year, the price of gold has increased by 66%, whereas Bitcoin has decreased by 21%.
Despite higher price swings in recent trading sessions, JPMorgan analysts have repeated their prediction that gold prices are expected to reach $6,300 per ounce by the end of the year.
source: bloomberg.com