Digital Gold, Bitcoin (BTC) Suffers Deep Correction, Gold Investment Platform Sparklo (SPRK) Shines

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.

Runner sprinting up a golden arrow leaving a red trail behind.

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.

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.

Sponsored

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.

Sponsored

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

This article contains a press release from an external source. The opinions and information presented may differ from those of DailyCoin. Readers are encouraged to independently verify the details and consult with experts before acting on any information provided. Please note that our Terms and Conditions, Privacy Policy, and Risk Warning have been recently updated.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Press Release

Read the most recent crypto press releases on DailyCoin to know all the latest project news from fintech and blockchain businesses. Disclaimer: This article is a press release and was not written by DailyCoin. We always aim to have the highest editorial and fact-checking standards, so if you encounter any content related issues, please contact us at pr@dailycoin.com.