Chinese Media: Bitcoin Bull Run Could Be Bearish for Gold and Precious Metals

Chinese Media: Bitcoin Bull Run Could Be Bearish for Gold and Precious Metals Reading Time: 2 minutes by Osato Avan-Nomayo on December 14, 2020 Bitcoin Chinese state media are predicting further declines for gold and the precious market in general amid a possible parabolic advance for Bitcoin (BTC). Indeed, several market analyses show an increasing pivot away from traditional haven assets like gold towards BTC as investors look to capitalize on the top-ranked crypto by market capitalization reaching new heights. Investors Ditching Gold for Bitcoin Tweeting on Sunday, (Dec. 13, 2020), Red Li founder of Chinese crypto media outlet 8BTC…