r/CryptoCurrency – Recent bank runs show that gold is no longer the preferred safe-haven in times of crisis. The price of crypto rose 4 times that of gold, leaving it in the dust.

In the past, gold was considered a safe haven and store of value during times of crisis such as bank runs. Gold prices doubled as the S&P500 recovered.

Today’s banking shows that gold is no longer king. Crypto has completely left it in the dust.

In the last week:

• The price of gold rose by 6 percent from $1870 to $1990
• Bitcoin rose from $20500 to 27400 for a 33% increase
• Ether rose from $1450 to $1800 for a 24% increase

BTC rising 33% in one week

You could argue that crypto prices were down, but even if you look at 2 weeks ago:

• The price of gold increased by 7% from 1860 to $1990
• Bitcoin rose from $22400 to $27400 for an increase of 22%
• Ether rose from $1550 to $1800 for a 16% increase

ETH is up 24% in a week

This is a great sign, and I expect the crypto marketcap to surpass the price of gold within the next 10 years.