<span style="font-weight: 400;">The age-old commodity has emerged as a surprising ally for Bitcoin, the <a href="https://www.cryptoknowmics.com/news/reason-supporting-the-digital-yuan-in-becoming-a-suitable-digital-currency/">digital currency</a> that was once regarded as a volatile investment gold. The connection between the alpha crypto and the valuable metal has consistently expanded, giving investors a place of refuge notwithstanding the continuous financial emergency and increasing loan fees.</span>
<h2><span style="font-weight: 400;">With the banking crisis looming, Bitcoin outshines gold</span></h2>
<span style="font-weight: 400;">Investors are turning to Bitcoin as a safe haven for their money as the banking crisis continues to wreak havoc on the financial sector. As a matter of fact, many are picking crypto over the conventional place of refuge, gold, due to its more significant yields and expanded dependability.</span>

<span style="font-weight: 400;">Currently trading near the $30,000 psychological level at $28,936, BTC has recorded an impressive rally of 3%. This surge in demand for Bitcoin is due to its rising correlation with gold, which has surpassed the 50% level and now stands at 57%, as per </span><a href="https://twitter.com/KaikoData/status/1651173606796263424"><span style="font-weight: 400;">data</span></a><span style="font-weight: 400;"> by market analytics firm Kaiko.</span>
<h2><span style="font-weight: 400;">Bitcoin is seen as safe haven for investors as regulators look to crack down on its use</span></h2>
[embed]https://twitter.com/KaikoData/status/1651173606796263424[/embed]

<span style="font-weight: 400;">Due to its volatile price and lack of regulatory oversight, Bitcoin has long been considered a risky investment. However, in recent years, it has emerged as an asset that investors can use as a safe haven to protect themselves from traditional market risks. Bitcoin operates independently of central banks, making it less susceptible to inflation and government interference than other traditional assets and fiat currencies. Additionally, the decentralized nature of Bitcoin grants investors greater asset control and lessens their exposure to systemic risks.</span>
<h2><span style="font-weight: 400;">Bitcoin offers security and convenience in the face of money-hungry governments</span></h2>
<span style="font-weight: 400;">With the capacity to store and move abundance across borders without the requirement for delegates, Bitcoin offers a degree of independence from the rat race and security that is unrivalled by customary resources. Due to its finite supply and digital scarcity, its value is not affected by government policies or macroeconomic factors, making it an inflation hedge. Thus, Bitcoin has earned expanding respect as a place of refuge resource, especially in the midst of financial vulnerability and market unpredictability.</span><span style="font-weight: 400;">
</span><span style="font-weight: 400;">Investors who want to diversify their portfolios and safeguard their wealth from external threats have found it to be an appealing option thanks to its capacity to provide a secure and dependable store of value.</span>

Despite Rising Correlations To Gold, Bitcoin Remains A Safe-Haven Asset

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Despite Rising Correlations To Gold, Bitcoin Remains A Safe-Haven Asset

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