Gold reaches a new all-time high of over $4,200 per ounce, driven by retail consumer demand and central bank hedging against currency inflation. The price of gold has risen by about 61% year-to-date. Gold overtook US Treasurys as a percentage of central bank reserves, now making up over 25% worldwide.

Bitcoin’s role as a store-of-value is debated as it mirrors gold’s properties but exhibits high volatility due to its lower market cap. BTC price down approximately 8.8% after a historic market crash, while some altcoins lost over 95% of their value. Analysts point to price divergence between BTC and gold.

Economist Peter Schiff claims Bitcoin’s recent price decline amid gold’s rally indicates the end of the BTC bull market. Market analysts continue to discuss BTC’s store-of-value narrative and its price divergence from gold. Bitcoin’s price resilience compared to altcoins is seen as a sign of strength.

Read more at Cointelegraph: Gold Hits New All-Time High of Over $4,200 Amid Inflationary Woes