[Bithumb Easyconomy] Experienced investers see this bear market as an opportunity
“This year’s May was the most brutal month for Bitcoin.” This is what CNN said of the recent digital assets market that plummeted. Currently, Bitcoin is being traded at around 36,000 dollars based on coin market cap. This is almost half the record high of 64,000 dollars set in the previous month. This month, the value sunk by over 30%, the largest drop (monthly) in the last decade.
Gold is better than Bitcoin? Millennials prefer Bitcoin
One asset has benefited from the recent stagnation of digital assets. It is “gold.” On the last 20th, gold futures for August delivery set a record high in five months at 1883.90 dollars per troy ounce, according to New York Mercantile Exchange. The value jumped by over 7%, in a totally opposite trend than Bitcoin’s. In addition to the digital asset’s stagnation, another reason for the surge in gold price is deemed to be the increased demand for safe assets due to worries over inflation. In fact, the stock market also recently performed poorly with highly volatile growth stocks taking a steeper dive than value stocks for quite a while.