In this month’s battle between the precious metal gold and the leading cryptocurrency, gold takes the lead. Bitcoin started the month with huge promises as many experts predicted that it might go on to break its previous best to reach new heights. But it left many disappointed. However, gold, on the other hand, had a good month.
Gold remains the safe have for investors
Gold closed on the 30th July at $1426.73 with 3.60% decrease. Over the month metal saw its peak at $1542 on 27th August before closing at $1525 per ounce on 30th August. It saw an increase of 7.43 %. Many experts claimed that gold proved itself to be a true safe haven for investors. In comparison to bitcoin, gold’s price this month was quite stable and saw an upward trend with $1439 being its lowest.
Bitcoin struggled to remain stable after the initial hike
Bitcoin saw a huge surge in its price at the end of last month. It started its month at a positive $9492 and looked promising to go higher from that. Throughout the month BTC kept fluctuating between $9500 and $11,000. However, it saw its peak at $12259 on 6th August. Currently, BTC is at $9585, just slightly below $100 at where it started the month. Overall this was a positive month for the leading cryptocurrency.