Bitcoin soars to all-time highs on several exchanges as gold, equities take a beating
Bitcoin bucked sluggish activity across broader markets, hitting all-time highs on several cryptocurrency exchanges during Monday morning's trade session.
The digital currency traded as high as $19,873.23 a coin on Coinbase, while hitting all-time highs on Binance, Bitstamp, and Kraken. At last check, bitcoin was trading up about 5.8% on the day at $19,047.
Meanwhile, the Dow Jones Industrial Average was down more than 1.4%. The price of gold was trading lower — adding to the losses bullion faced throughout November. Gold was trading down 0.47% at the time of writing at $1,782.
The divergence between gold and bitcoin is striking, considering many investors have characterized the latter as a digital alternative to gold, which traditionally outperforms during periods of anxiety. Breakthroughs made by pharmaceutical firms on a Covid-19 vaccine appear to have sent gold's price into a tailspin
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