Altcoins News
By Jean-Luc Maracon
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Gold just hit new highs. Bitwise Asset Management's Chief Investment Officer Matt Hougan thinks the rally shows people don't trust fiat currencies anymore, especially as crypto…
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The precious metal climbed past $2,000 per ounce this month, reaching levels not seen since 2020.
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The Securities and Exchange Commission won't stop poking around digital assets. Gary Gensler keeps talking about enforcement actions.
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Bitcoin dropped below $40,000 twice in January, making investors nervous. Ethereum fell even harder, down 15% in two weeks. Other altcoins basically collapsed.
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And crypto still can't crack mainstream payments. Sure, more people know what Bitcoin is now. But try buying coffee with it. Good luck.
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Bitwise manages billions in crypto investments but even they're pushing for regulatory clarity.
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Meanwhile gold bugs are having a field day. The Federal Reserve's low interest rate policies make the metal more attractive. When cash pays nothing, gold looks better.
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BlackRock CEO Larry Fink stays cautious about crypto too. The world's biggest asset manager won't fully commit to digital assets without "robust regulatory frameworks.
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Retail investors still trade crypto but they're way more careful now. Robinhood reports steady volumes but nothing like the 2021 frenzy.
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The International Monetary Fund jumped into the debate too. They told countries last month to establish "clear guidelines" for digital asset risks.
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Some companies still believe in blockchain technology even if crypto prices stink. IBM announced plans January 15 to expand blockchain applications in supply chain management.
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Gold's rally caught everyone's attention. Hedge fund positions in gold futures jumped 40% since December according to CFTC data.
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The crypto market needs to prove itself now. All the promises about replacing traditional finance sound hollow when Bitcoin can't hold $45,000.
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Market participants face tough choices between old and new assets. Gold offers stability but limited upside. Crypto promises huge gains but delivers huge losses too.
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Hougan's probably right about fiat currency concerns driving gold higher. When governments print money endlessly, hard assets look better.
The Currency Analytics
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