Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
In recent years, debates on Bitcoin and gold as means of savings have become more and more heated, especially due to the increasing value of the leading cryptocurrency. According to the CEO of ARK Invest, Cathie Wood, the launch of the first spot BTC ETFs has tilted the discussion in favor of Bitcoin.
Last year, during the regional banking crisis in March, Bitcoin surged by 40% as the regional bank index KRE collapsed. Wood mentioned this in a Sunday interview with ARK Invest's Chief Futurist, Brett Winton, adding that after a slight correction following the introduction of 11 BTC ETFs, demand for Bitcoin reappeared.
Addressing the topic of Bitcoin's price drop after the ETF launch, Wood believes that Bitcoin declined because, in her observation, many anticipatory purchases were leading up to the ETF's introduction.
Transitioning to the dynamics of Bitcoin compared to gold, Wood provided a chart showing a strong upward trend in favor of BTC, explaining that this evidence suggests that Bitcoin is in the process of partially replacing the precious metal.
The chart indicates that Bitcoin is growing in relation to gold. There are assumptions that this trend will continue, as there is a much simpler and less complex way to access Bitcoin.
Data from the chart below shows that the correlation between Bitcoin and gold has been increasing since the launch of the ETF on January 11.
Historically, gold and Bitcoin did not correlate in the long term. However, over the recent period, they have both grown together. According to the 2024 Look Ahead report from Fidelity, Chris Kuiper, Director of Research at Fidelity Digital Assets, noted that Bitcoin has grown significantly, prompting consideration: if investors continue to flock to real assets, will there be a narrative shift towards Bitcoin like that towards gold?
Both Kuiper and Wood believe that the current group of Bitcoin holders, driven by greater profit, is willing to hold on longer. With each cycle, more coins move into stronger hands with longer investment horizons.
They both consider this to continue playing a crucial role in the robust foundation upon which the entire year 2024 will be built.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
