TechFlow news, October 19 — According to Caixin Network, Minsheng Securities macro analyst Shao Xiang stated that bitcoin could have been a significant competitor to gold in the fiat era, but its strong speculative nature has led to a notable recent correction. Bloomberg investment columnist John Authers also pointed out clear differences in the performance of gold and bitcoin during the latest two periods of market stress (one in April and another in recent days), where gold prices remained stable or even rose while bitcoin fell sharply. This indicates that during risk events, the market still classifies bitcoin as a risk asset, whereas gold is regarded as a safe-haven asset.
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