Comparing Bitcoin’s Recovery to That of Gold and Oil

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In Brief
  • Oil has broken out from an important resistance level and is heading towards the next one at $45.

  • Gold has regained all of its losses from the March decline, but has began to show weakness.

  • Since the beginning of March, Gold has been the best performing asset, followed closely by Bitcoin, while Oil lags behind.

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Since the March 13 drop, both Gold and Bitcoin have recovered the entirety of their losses and have created new highs. The price of Oil, however, has yet to recover, currently trading 30% below its March high. During times of turmoil, commodities such as Gold and Oil are often considered safe havens. While Bitcoin is a relatively new asset, some believe that it might share this same
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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