Gold Price Breaks New ATH, Bitcoin Price Drops!

Bittime - Lately, gold and Bitcoin are often compared about which asset is more suitable for long-term investment. The prices of these two assets do promise tempting profits.

However, today the price of gold has increased to reach a new ATH, while the price of Bitcoin has actually fallen. Read this article to find out more!

Gold Price Breaks New ATH

Today, gold price breaks through all-time high (ATH), beyond the level $3.047 per ounce. This price increase occurred after increasing geopolitical tensions in the Middle East, especially after Israel violated the ceasefire with Hamas.

As a safe haven asset, gold is often the main choice for investors in times of economic and political uncertainty. This upward trend shows that gold remains a reliable investment instrument in facing global market turmoil.

Read Also: The Meaning of the Bitcoin Logo: Who Created It?

Bitcoin Prices Drops in the Last Month

Sumber: Coingecko 

Meanwhile the gold price rises, Bitcoin prices actually plummeted. Based on data from CoinGecko, Bitcoin is down almost 3% in the last 24 hours and more than 15% in the last month. 

Currently, BTC is trading in a range $81.967, down almost 25% of ATH $108,786 achieved when President Donald Trump was inaugurated.

Although it is often referred to as digital gold, Bitcoin Currently moving more in line with the United States stock market, especially technology shares on the Nasdaq. 

Uncertain macroeconomic factors and President Trump's aggressive trade policies are the main triggers for the sell-off in risky assets such as Bitcoin.

Impact of Trump's Policy on Bitcoin Price

President Trump previously promised to support the digital asset industry and reduce regulations that hinder the growth of the crypto sector. 

However, his sudden decision to implement new trade tariffs against major trading partners was precisely that trigger uncertainty in the market.

This policy makes investors tend to move out of risky assets, including Bitcoin and technology stocks, causing significant selling pressure, and has an impact on Bitcoin's price decline.

Read Also: Donald Trump Signs Creation of US Bitcoin Reserve

Bitcoin Price Drops, Can It Still Be Called Digital Gold?

In recent years, Bitcoin prices have often performed better than gold, especially during the banking crisis of 2023. At that time, many investors turned to Bitcoin as a store of value which is similar to gold.

However, the current situation shows that Bitcoin is still more speculative and is still in the growth phase, so it has not yet achieved the stability necessary to truly become a safe haven asset like gold.

Read Also: Historical Bitcoin Price Movement 2017

Conclusion 

Bitcoin is still often referred to as digital gold, but market realities show that these two assets respond to macroeconomic conditions in different ways. 

When the price of gold reached a new ATH amidst global uncertainty, the price of Bitcoin actually fell due to pressure in the risk asset market.

So, will Bitcoin really be digital gold in the future? Now, we still have to be patient to see how this crypto asset develops until it will eventually reach the same status as gold as an asset store of value.

Read Also: Bitcoin Vs Gold Investment in 2025: Which Makes More Money?

Bitcoin FAQs

What are Bitcoins?

Bitcoin is the world's first crypto asset and the largest crypto asset by market capitalization. Bitcoin was first created in 2009 by Satoshi Nakamoto, whose true identity until now no one knows.

How many Rupiah is 1 BTC?

Currently, 1 BTC is worth IDR 1,370,350,800 based on the Bittime market. 

1 BTC How much is USD?

Currently, 1 BTC is worth $83,182.90 according to Coingecko. 

How to Buy Crypto with Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Decrypt, Gold Just Set a New All-Time High While Bitcoin Is Falling: What's Going On?, accessed March 19, 2024.

Coingecko, Coins-Bitcoin, accessed March 19, 2024.

Author: IPR