In the latest bitcoin news, we can see that the despite the Bitcoin’s price decline and the entire market crash, Bitcoin still ranks as one of the top performing assets in the past several years.
Bitcoin still serves as a speculative financial instrument and users still don’t see it as a store of value. Bitcoin has provided for the long-term holders with some huge returns over the years but it has also proven to be a bad investment for some when compared to gold since Bitcoin is extremely volatile.
The gold price has increased over the fourth quarter despite the concern of the stock market crashing following the ongoing bull run which seems to be running out of steam. The stocks managed to recover on Wednesday but futures declined after the market crashed which means that investors still haven’t seen the end of the downturn.
Google searches for Bitcoin are declining after the recovery Bitcoin made from the yearly low. Over the year the interest in cryptocurrencies, in general, has dropped by 80 percent. Gold, on the other hand, increased in google searches by 15 percent, especially in the United States.
The data shows that the search for the terms ‘’buy gold’’ and ‘’buy bitcoin’’ shows that the US residents typed ‘’buy bitcoin’’ into Google more than six times as ‘’buy gold’’. More than a year later after the bitcoin’s price reached its all-time high, users are now more likely to seek information of buying gold than bitcoin.
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