The collapse of oil and stocks will cause an increase in the price of gold and bitcoin

Bitcoin is becoming more of a store of value as volatility declines, Bloomberg analyst saysMike McGlone

“In this troubled year, bitcoin will most likely continue to rise along with gold,- he writes.

"Bitcoin volatility is now lower than the most important commodity, crude oil, and is at an all-time low relative to the S&P 500."

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According to CryptoCompare, oil was superiorBitcoin by volatility long before its collapse at the beginning of last week. The “black gold” volatility began to grow in early March and remained at elevated levels for most of April.

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“The higher the volatility, the more risky an asset is, regardless of the direction of its course,- said analysts.

Over the course of the year, disagreements between OPEC and Russia, supplemented by a shock of negative demand, caused a collapse in oil prices, making it a more risky asset than bitcoin. ”

Analytical service Skew notes that the alleged volatility of Bitcoin has recently returned to levels observed before its own cryptocurrency price collapse in mid-March.

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“In these conditions, we can see a shift in demandtowards assets that cannot be diluted continuously. Currently, fiat currencies are the only haven in this storm, but they may not meet expectations in the medium or long term. ”, - add CryptoCompare analysts.

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