Things are not looking all that great for people who invested a lot of money in gold throughout 2016. It turns out a lot of investors are liquidating their gold at the fastest pace in years. It is unclear what is driving this sell-off signal all of a sudden, but it appears gold is no longer a favorable long-term asset. This creates a golden opportunity for Bitcoin to emerge as the top safe haven asset in 2017 and beyond.
Gold Is Being Liquidated At An Alarming Pace
Ever since the 2016 US Presidential election, the price of gold has been more volatile than a few years ago. Political decisions always affect the value of most traditional assets. In times of economic turmoil, investors tend to flock to precious metals as a way to hedge against future currency instability. But the 2016 Elections have sent the gold price on a wild rollercoaster, unlike anything the world has seen in recent years.
Recent gains made by bullion have not calmed the global market, though. Capital outflows are affecting the gold market for eight weeks in a row now. Investors