Investors fleeing to gold as volatility rise in crypto market
- With a drop of 36%, bitcoin posted its worst monthly fall since November 2018 in May as lofty valuations, concerns over its environmental impact and a regulatory crackdown on cryptocurrencies in China took a toll
After chasing higher returns and enduring big swings over the last few months, funds are now reversing from cryptocurrencies such as bitcoin to gold as investors appreciate the reliability and stability of the precious metal, according to a note by Quantum Mutual Fund.
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