According to Odaily Odaily, gold and silver broke historical records again this week, demonstrating the strong performance of precious metals. However, this is like adding insult to injury for cryptocurrency investors. Bitcoin, once considered "digital gold," has fallen 6.25% this year after hitting a record price, while Ethereum has also fallen 12%. The overall sentiment in the cryptocurrency market is very low, even dragging down the stock prices of publicly traded crypto asset management companies.
Louis Navellier, founder of investment advisory firm Navellier & Associates, pointed out that given gold prices are expected to rise nearly 70% in 2025 while most cryptocurrencies continue to decline, it's time for cryptocurrency investors to turn to gold. He emphasized gold's advantages, including central bank purchases, lower volatility, and improved liquidity. Meanwhile, renowned investor Peter Schiff posted on the X platform that if Bitcoin doesn't rise when tech stocks rise, and doesn't rise when gold and silver rise, then it may never rise. (Yahoo Finance)
