How did the drop in gold prices in 2015 affect the value of cryptocurrencies?

1 answers

• May 06, 2022 · 3 years ago
  At BYDFi, we observed that the drop in gold prices in 2015 had a short-term impact on the value of cryptocurrencies. Initially, there was a slight decrease in cryptocurrency prices as some investors shifted their focus to gold due to its historical role as a safe-haven asset. However, this effect was temporary, and cryptocurrencies quickly regained their momentum as investors recognized their potential as a digital store of value. The drop in gold prices ultimately had a limited and short-lived impact on the overall value of cryptocurrencies.
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