Zimbabwean authorities have decided to introduce a new digital currency that will be backed by gold. The new central bank digital currency (CBDC) can be used as a means of payment within the country and to maintain its stability.
The recent breakthrough of the $30,000 price level has already been taken as the first real sign of the coming crypto spring. Bitcoin and cryptocurrency experts are already placing their bets on the next possible price movement.
For decades, gold has been considered a safe haven when it comes to inflationary periods and protecting your savings at a fairly low risk. The price of the precious metal has increased by about 600% over the course of the last ~20 years, surpassing the returns of indexes such as the S&P 500, Dow Jones Industrial and many others.
The bear market is not over yet, but some cryptocurrencies remain positive despite the current downtrend. Altcoins are attempting a recovery rally but are coming under selling pressure at resistance levels. Let us discuss some of the cryptocurrencies that have performed the best.
During a presentation at Talent Land Jalisco, Mexico, the philanthropist, Apple co-founder and electronics engineer, Stephen Wozniak praised Bitcoin (BTC) and said that the world's oldest cryptocurrency is better than gold. His statement caused excitement throughout the cryptocurrency market and drove the price of Bitcoin up.