Bitcoin (BTC) has long been called the “Digital Gold” because of its low correlation with all other assets like stocks and being a good hedge against inflation. This statement can be said to be true, given the remarkable performance of Bitcoin (BTC) in 2023.
However, Bitcoin (BTC) is now suffering from a steep correction that has pulled its price under $30,000 as bulls failed to preserve higher levels. On the other hand, the gold trading platform, Sparklo has continued to dazzle in the market, with investors rushing in to back its presale.
Bitcoin (BTC) Falls 3% in Steep Correction
After a strong rally, the price of Bitcoin (BTC) saw a sharp downturn, falling by more than 3% in less than an hour. As a result of the steep correction, the price of Bitcoin (BTC) fell as low as $29,015 on April 19th.
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Michaël van de Poppe, the founder and CEO of trading firm Eight reacting to the correction tweeted that Bitcoin was unable to hold at $29,700-29,800 leading to the correction. In addition, there was massive liquidation, with Bitcoin (BTC) traders losing over $53 million in the last 24 hours based on data from CoinGlass.
Experts believe that Bitcoin (BTC) could continue trading in the region of $28-$29k in the coming days until a bullish momentum hits. As digital gold struggles, another gold trading platform is enjoying significant success.
Gold Trading Platform, Sparklo Shines
Sparklo is developing the world’s first blockchain-based gold, silver, and platinum trading platform that will allow everyone to buy and trade these traditional assets regardless of the amount they have.
On Sparklo, investors will be able to buy fractions of gold, silver, and platinum which will be minted as non-fungible tokens (NFT) backed by physical assets. These digital assets will be fractionalized so investors do not need to buy the entire bars of gold, silver, and platinum.
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Fully backed by these assets, if an investor buys a whole gold NFT, they can choose an address to where the physical gold bar will be delivered to. The reserves of Sparklo are fully backed, detailed by the recent audit conducted by the InterFi Network.
Sparklo has piqued the interest of investors since it aims to remove obstacles between ordinary investors and current traditional metal investing, like gold. The presale of this gold-trading platform is currently ongoing, and one token trades at $0.015.
The presale accepts several established cryptocurrencies including the digital gold Bitcoin (BTC), along with Ethereum (ETH), Bitcoin (BTC), Tether (USDT) Solana (SOL), Dogecoin (DOGE), Binance Coin (BNB), Uniswap (UNI), and more.
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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