Amid rumors of a possible default in the U.S., investors are switching en masse to gold and silver. The precious metals have been rising in price over the past few days.
Gold rose to $2012 per troy ounce on Tuesday, May 16. The base precious metal is seen by institutional investors as the safest asset amid financial uncertainty in the U.S. and global markets, Bloomberg reported.
More than half of big investors interrogated by the agency, declared about intention to increase capital investments in gold in the near future.
Treasury bonds are the second most attractive, and bitcoin closes three leaders. 7.8% of professional traders and 11.3% of retail traders voted for investments in BTC.
The largest digital currency today sank to $27,031. Ether (ETH) and Binance Coin (BNB) fell 1.5% to $1814 and $311, respectively.
Bloomberg strategists predict that as U.S. crypto-policy tightens and default risks increase, the appeal of bitcoin and other virtual currencies will decline. In that case, BTC and ETH could fall below $27,000 and $1800. Some observers believe bitcoin will bottom only around $25,000.