RATE Group | Bitcoin Battles for $10K as Gold Prints Over 7-Year High
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Bitcoin Battles for $10K as Gold Prints Over 7-Year High

19 May Bitcoin Battles for $10K as Gold Prints Over 7-Year High

Posted at 04:46h in Bitcoin News by

Bitcoin’s attempt to scale the psychological resistance of $10,000 looks to have stalled again, even as gold soars to new highs.

The top cryptocurrency by market value is currently trading around $9,630 at time of writing, representing an over 145% gain on the low of $3,867 registered March 12, according to CoinDesk’s Bitcoin Price Index. 

However, the cryptocurrency faced rejection near $10,000 early Monday – its third failure to cross info five figures since May 1 – and printed a low of $9,450 during European trading hours. The drop put prices down over 0.5% on the day.

Meanwhile, gold, a safe haven asset, is currently trading 1.16% up on the day at $1,760 per ounce – the highest level since October 2012. The precious metal has risen by 4% since May 12 and is up 21% from the lows registered in March. 

“Bitcoin has not been able to stay above the significant US$10,000 level [but] it has made considerable gains through the year. Gold has seen more than a 15% increase since…

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