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Bloomberg: Bitcoin Is Stabilizing at 6x the Price of Gold

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Stock, Top News
imageCryptocurrency8 hours ago (Aug 05, 2020 01:40PM ET)

Bloomberg: Bitcoin Is Stabilizing at 6x the Price of Gold

In its crypto outlook for August, Bloomberg contends that the price of Bitcoin (BTC) is stabilizing at six times the price of an ounce of gold. This speculation came shortly after the correlation between the two assets reached an all-time high.

Bloomberg has professed for some time now that Bitcoin is on the verge of becoming digital gold. This is due to the asset’s inherently similar qualities, such as a limited supply and a low growth rate. The company is now taking its hypothesis a step further by claiming that there is a price ratio relationship between the assets:

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Bloomberg: Bitcoin Is Stabilizing at 6x the Price of Gold

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