Bank of America analysts say that Bitcoin is once again highly correlating with the price of gold, suggesting a return to safe-haven asset status.
October 24, 2022 | Read Online | | | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $19,330 | Bitcoin price is sitting above $19,000 to begin the week – continuing a very low-volatility, sideways run. | Top-20 altcoins have mostly seen small losses over the last 24 hours of trading. Ethereum is almost unchanged, while XRP and Solana each fall a little over 1%. Polygon stands out with a solid 6% gain. | Top Stories for October 24, 2022 🔥 | | Bank of America analysts say that Bitcoin is once again highly correlating with the price of gold, suggesting a return to safe-haven asset status. | The two assets have not shown high correlation since February 2022, after which Bitcoin began to more closely track the market movements of the stock S&P 500 and Nasdaq 100. | In addition to the decoupling of Bitcoin and the stock market, Bitcoin has also become less volatile than equities for the first time since 2020. | | Popular mainstream trading app Robinhood has listed Aave (AAVE) and Tezos (XTZ), taking its total number of supported cryptocurrency assets to 19. | AAVE has rallied 7% on the news, meanwhile Tezos remains relatively unchanged over the last 24 hours. Both tokens have seen losses of around 75% over the past year. | | Bitcoin mining difficulty has risen yet again in the latest automatic adjustment, this time rising 3.4%. The move adds to an even larger adjustment of 13% earlier this month. | The difficulty level determines how much work must be done by miners in order to have a shot at earning block rewards – freshly-minted BTC in return for processing transactions and upholding the network. | Hash rate, a measure of how much computing power is securing the network, has also risen to another new all-time high of 266 EH/s. |
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