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Bitcoin has recently hit a one-month high again. It seems that the demand as a safe haven asset is behind this rise. The current price has climbed to the $74,000 range, and market activity is becoming more lively.
What's interesting is that during such times, more investors are looking at the comparison with traditional safe haven assets like gold and silver, specifically the gold-silver ratio. While Bitcoin is being bought for safe haven demand, the movement of the gold-silver ratio is also being closely watched. In other words, during unstable market periods, interest in multiple safe haven assets, including Bitcoin, tends to increase.
In the short term, the key point is how long this safe haven demand will continue. Many people are probably predicting Bitcoin's next move by watching the trend of the gold-silver ratio.