Weekly Comic: Bitcoin’s monster rally to record highs leaves gold in the dust
Investing.com
Published May 11, 2017 09:23AM ET
Investing.com - Bitcoin prices cleared the $1,800-level for the first time on Thursday to hit a fresh record high, as a month-long monster rally continues amid bullish noises around the future of the cryptocurrency.
Bitcoin rose to a daily peak of $1,885.00. It was last at $1,841.35 a coin, up around 3.2%. It rose more than $100 in just two days, after clearing $1,700 for the first time on Tuesday.
The digital currency has gained for 18 straight days, rising almost 50% over that time. Since the start of the year, the price of bitcoin has soared 81%.
In contrast, gold prices struggled near their lowest level in eight weeks at around $1,220 on Thursday. Prices of the yellow metal have not topped the $1,500-level since 2013.
Market analysts expect prices of the digital currency to cross above $1,900 in the days ahead and zero in on gold's all-time peak of around $1,927 touched in September 2011.
The current price action has clearly shown that bitcoin has left gold behind in the dust in this race (BTC/XAU).
To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics
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Written By: Investing.com
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