Bitcoin is once again having a moment. The cryptocurrency has soared as fears about the coronavirus outbreak send shock waves throughout global stock markets
The cryptocurrency has soared as fears about the coronavirus outbreak send shock waves throughout global stock markets.The price of one bitcoin is now hovering around $9,300. Bitcoin is up nearly 10% this week and has gained 30% since the end of 2019. It's the best start to the year for bitcoin since 2012.Worries about the rapid spread of the coronavirus is one factor boosting bitcoin, an asset that often has gone up when investors are nervous.
"Bitcoin and gold may continue to do well as safe haven investments."Djie agreed."Gold and bitcoin have become prominent alternatives for retail investors looking to safeguard their wealth."The best investment of the decade turned $1 into $90,000Investors considering bitcoin as a long-term investment should probably think of bitcoin much like gold.
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