coinfox.info / 06 August 2015
Bitcoin may be theCURRENCY of choice during the next recession, says Martin Tillier of NASDAQ. He argues that the correlation between gold and bitcoin prices may be a mere coincidence.
In his column on NASDAQ site, Tillier investigated the possible connection between gold and bitcoin:
“We can see that a) In the past gold has soared in times of financial crisis; b) Confidence in both the Euro and Chinese stocks fell at the same time in June; c) at the same timeTHE PRICE OF GOLD was falling; and d) at that time the price of Bitcoin was increasing. Logically, all of that suggests that Bitcoin has replaced gold as the safe haven of choice in times of trouble.”