Gold Nearing $2K Questions Bitcoin’s Status as ‘New Standard’

Time Stamp: February 24, 2022 5:49 AM
Source Node: 1185300

Gold Nearing $2K Questions Bitcoin’s Status as ‘New Standard’

  • Russia’s attacks on Ukraine has negatively impacted crypto and stocks.
  • Meanwhile, gold’s price is surging to $1,949.
  • The spectacle is causing many to rethink Bitcoin’s case as the new hedge standard.

Russia’s invasion of Ukraine has brought various financial markets to their heels, with the entire crypto market witnessing a crash of 8.9%. Meanwhile, US stocks, including Dow Jones and S&P 500, are on a freefall.

S&P 500 ETF 1-day chart (source: TradingView)

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