Cryptocurrency

Bitcoin and Ethereum Recover – Why analysts find it unlikely for cryptos to replace gold

Τhe prices of cryptos recovered in Thursday’s trading after the pressures on Wednesday. However, analysts estimate that Bitcoin is unlikely to outperform gold in terms of investment and popularity.

“If cryptos are able to replace gold as an investment, the impact on the price of gold would be overwhelming. 40% of the demand for gold is for investment, so an investment shift from gold to cryptos would cause seismic shocks, “said Kristoffer Inton, Kristoffer Inton, analyst at Kristoffer Inton.

On Wednesday, Binance, one of the largest cryptographic exchange platforms, said it had invested $ 3.5 million in TravelByBit’s payment company to develop a point-of-sale payment system at all airports around the world.

Bitcoin trades 1.79% higher at $ 6,591.9, while Ethereum wins 2.79% to $ 225.06.