Opinion: The recent strong rise of Bitcoin has attracted some funds to flow from gold into Bitcoin
According to China Fund News, Liu Tingyu, the fund manager of Yong Win CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock ETF, analyzed that with the conclusion of the U.S. election results and after realizing expectations from "Trump trades" in September and October, some bullish funds have taken profits which triggered this adjustment in gold prices. Both virtual currencies and gold have a certain substitutability for sovereign currency. Recently, Bitcoin's strong rise has attracted some funds to flow from gold into Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Indian Rupee: RBI tightening path seen shallow – Standard Chartered
Eurozone flash HICP rises 3.3% YoY in August, as expected
Arbitrum (ARB) Surges 31%: How Far Can This Rally Actually Go? post-166168 post-166168 post-166168
Bitcoin ETFs pull in $217 million after Friday outflow, ether ETF inflows hit 11 days
Crypto prices
More
