Bitcoin traders are beginning to worry and seeking investment protection. Sales of gold coins jumped fivefold last week at Frankfurt-based CoinInvest, with many investors calling and sending emails because they were nervous about leaving.
CoinInvest Director Daniel Marburger said that the surge in demand for gold continues and, this is a constant flow to gold.
Marburger said, although the bitcoin selling price returned to the level of USD11,700 on Monday morning after plunging to the level of USD10,000 last week, investors were still nervous.
He said Bitcoin didn’t make a clear turning trend in the previous week and, gold will soon recover at this time with an 8% increase since its lowest position in January.
According to him, speculators sought security from the “crazy volatility” of the crypto that occurred, the value of which had collapsed 40% last month.
Some experts argue that cryptocurrency will be stable in the long run. Benjamin Dives, CEO of the London Block Exchange, who plans to launch the sterling to bitcoin exchange immediately said that volatility is not a cause for concern.
He said many investors are may not be comfortable with the flow of the market and some are cashing in to invest in stable traditional assets, such as gold.