Gold vs. Bitcoin: Metals Are Melting, Tom Lee Predicts an AI Rebound
BTC when published $81,776Now $80,577 ▼ −1.47% since it was published
The latest Bitcoin vs. gold comparison offers an intriguing signal. Gold and silver are suffering a brutal sell-off, wiping an estimated $1 trillion in market value from the two precious metals on Thursday. But as inflation fears intensify ahead of the Federal Reserve’s next meeting, Bitcoin could benefit if technology stocks recover, according to Fundstrat’s Tom Lee. Silver plunged 5.8% on Thursday, while gold fell 2.8%. Platinum dropped 4%, palladium declined 3.7%, and copper slid 2.8% to a five-week low, according to the reported market figures. CompaniesMarketCap’s supply estimates put gold’s lost market value at $810 billion, while silver shed more than $190 billion. Rising oil prices have revived concerns about persistent inflation, potentially limiting the Federal Reserve’s ability to cut interest rates.
First reported by Cryptonews. This page is a short excerpt; the full text is theirs.
