In brief
- Bitcoin hit a new all-time high on Monday; gold broke records on Tuesday.
- BTC was down over 3% a day after setting its latest record, while other major cryptos were largely in the red.
- Analysts think both gold and Bitcoin still have room to increase.
After setting record highs over the past two days, Bitcoin retreated on Tuesday, even as its analog form extended its recent surge to top $4,000 for the first time ever, but analysts who spoke with Decrypt remain upbeat about the digital coin.
Bitcoin was recently trading at $122,071, down 3.1% from its record high of $126,080 a day earlier, according to crypto data provider CoinGecko.
Despite the pullback, analysts told Decrypt that the digital coin still has room to rise—with gold—as investors look to alternative assets as hedges against a potential U.S. economic slump and accompanying drop in the value of the U.S. dollar.
Go to Source to See Full Article
Author: Mathew Di Salvo
