Record performance continues: Bitcoin is for first time worth more than gold An all-time high after the next: The digital currency Bitcoin is for weeks on record course. On Friday a new high was reached. Bitcoin price rose according to Bloomberg at noon up to 1,298 USDs. A milestone was reached early on Thursday: The Bitcoin price closed the first time higher than the price of gold .
Gold closes lower than Bitcoin
in the same time that Bitcoin price went up to $ 1,268. gold price decreased to $ 1,233. And digital currency’s price overtook the price of the precious metal for the first time. Also on Friday, the trend continued: in the same time that Bitcoin’s price continued its upward trend, gold lost value on the last trading day of the week value. The gap is thus further apart.
Speculations drive the Bitcoin price
In recent weeks there were particular speculations that had the digital currency helped vigorously on the jumps. Allegedly thinks the US Securities and Exchange Commission about it to approve the first Bitcoin ETF. As the “Wall Street Journal” reported, it is doing concretely to the approval of the “Winklevoss Bitcoin Trust ETF”. Currency experts expect a decision as early as next week. Should the funds come, soon a much larger number of investors trading in the digital currency will be possible.
Bitcoin as an alternative currency
Political uncertainty supports the soaring cryptocurrency. Growing distrust in the local currency is driving many investors – especially in emerging markets – in bitcoin investments. Recently also increasing capital controls in China had the Bitcoin lent buoyancy. Chinese investors about such controls can work around this by dodging the state not controlled the digital currency.