In the week of March 9-16, the entire world economy was defeated. Most of stock indexes, commodities and cryptocurrencies have dropped significantly. Although gold and silver have been considered safe havens in uncertain times, they do not escape the bearish market.
Trader Crypto Michaël tweeted a chart of gold, saying that both gold and silver are falling rapidly. In the context of the aforementioned BTC discount, we will compare each one to see which is best / worst.
Meanwhile; Silver and Gold absolutely getting hammered. pic.twitter.com/24Mso3yEop
– Crypto Michaël (@CryptoMichNL) March 16, 2020
Gold prices started falling on March 9, when it reached a high of $ 1,703. Since that day, gold prices have fallen by 13.6% in just one week.
However, when looking at the slightly longer, more specific time frame since the beginning of 2019, gold prices are still in an uptrend, having increased by 15.1%.
Prices have returned to December 2019 levels, wiping out profits for nearly four months.
Silver prices have fallen since February 24 when it hit a high of $ 18.94. The decrease is gradual until March 12, when the speed of reduction is greatly accelerated.
Since February 24, silver prices have fallen by 32.3%. Interestingly, the current price is also 17.1% lower than in early 2019.
The current price is $ 12.84. The last time it was under $ 13 was in July 2009.
Therefore, silver did not perform well this week.
Bitcoin price has been falling since March 7, when it reached a high of $ 9,241. While the current 44% drop is huge, the largest of the three assets we are analyzing, prices are still about 25% higher than January 2019 levels. Interestingly, this rate is also The largest of the three types is compared.
This discrepancy makes sense since BTC has been known to be more volatile than both gold and silver, so movements with greater amplitudes are expected in both directions.
The current price is the lowest since March 21, 2019.
|% changed since January 2019||Current rates have not been seen since|
|Yellow||+ 15.1%||December 17, 2019|
|Silver||– 17.1%||July 21, 2009|
|Bitcoin||+ 25.1%||March 21, 2019|
In short, both Bitcoin, gold and silver have dropped significantly in the past two weeks. However, silver has performed the worst, because when compared to January 2019, it had a negative percentage, down to a level not seen since 2009.
You can see the price of Bitcoin here.
Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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