🎉 Gate xStocks Trading is Now Live! Spot, Futures, and Alpha Zone – All Open!
📝 Share your trading experience or screenshots on Gate Square to unlock $1,000 rewards!
🎁 5 top Square creators * $100 Futures Voucher
🎉 Share your post on X – Top 10 posts by views * extra $50
How to Participate:
1️⃣ Follow Gate_Square
2️⃣ Make an original post (at least 20 words) with #Gate xStocks Trading Share#
3️⃣ If you share on Twitter, submit post link here: https://www.gate.com/questionnaire/6854
Note: You may submit the form multiple times. More posts, higher chances to win!
📅 July 3, 7:00 – July 9,
JPMorgan's Bitcoin (BTC) and Gold Report! "One Took the Lead, Here's Why!"
The competition between Bitcoin (BTC) and gold has been ongoing for years. While Bitcoin has strengthened its position as a safe-haven asset as digital gold, a new report has come from JPMorgan.
JPMorgan stated that Bitcoin's position as "digital gold" is being tested by increasing volatility, ETF outflows, and rising investor skepticism.
According to The Block, JPMorgan analysts stated that Bitcoin has lost value against gold as investors are turning towards safer havens.
Analysts stated that Bitcoin's position as "digital gold" has weakened due to increasing volatility and a strong correlation with technology stocks, while physical gold continues to attract interest among investors.
Analysts at JPMorgan, led by Nikolaos Panigirtzoglou, stated:
Devaluation trading is a strategy focused on buying assets such as gold and Bitcoin to protect against inflation, long-term debt, and weakening fiat currencies.
JPMorgan stated that when it comes to Bitcoin, its current price of approximately $83,100 is still trading above the estimated production cost of $62,000. Analysts noted that historically, the production cost has served as a lower boundary for BTC.
Analysts also stated that the risk-adjusted price of Bitcoin is approximately $71,000, indicating that these two levels are important support levels for BTC.