Posted 11/7/2023, 10:41:00 AM
Bitcoin Steady Under $35K as Dogecoin Fuels Trader Gains; Experts See Potential as Digital Gold Amid Economic Uncertainty
- Bitcoin (BTC) kept steady under $35,000 as dogecoin (DOGE) drove trader gains. Major tokens like SOL, BNB, and ADA lost up to 3%.
- SOL pared gains after a nearly 70% jump in the past month. XRP also reversed gains after jumping 10% on Monday.
- Traders say bitcoin could play a key role as "digital gold" - a hedge against stocks - as a potential price catalyst.
- Banxa CEO Richard Mico says bitcoin is poised to "be gold 2.0" amid looming US debt crisis and money printing.
- Mico states bitcoin and crypto overall have an "auspicious setup" despite expected volatility and pullbacks.