The price of the precious metal has fallen by 11% in 10 days, and there is a risk that it will continue to decline. And on the chart of the first cryptocurrency, on the contrary, a pattern was found that indicates the return of its price to an uptrend

Gold is one of the protective assets that you can buy to wait out the crisis in the economy and the downturn in the stock market. Probably, in this regard, the precious metal quotes since the end of December, when the coronavirus was detected, by mid-February increased by 12%, from $1,500 to $1,680 per ounce.

However, after that, the price of gold fell to the current level of $1497, completely extinguishing the growth that occurred. Cryptoglobe analyst Colin Mueller is confident that the metal price will continue to decline to $1,370, possibly up to $1,200. It failed to reach the previous historical high, set in August 2011 at $1,828, the expert explained. According to him, this and the fall of the RSI indicator to 60 points indicates the overbought asset and the weakness of buyers.

A bearish divergence is also reporting an imminent decline in the price of gold, Mueller added. This indicator shows that the asset price increase in February occurred at reduced volumes, the expert said.

Bitcoin, by contrast, will rise in price, the analyst believes the portal Coindesk Omkar Godbole. In his opinion, the exchange rate of the coin can rise to $5900-6000 within a day. On its daily chart, a "hammer" candle was formed, this is a reversal figure that speaks in favor of changing the downtrend to an uptrend, the expert argued.

He added that the buyer should not allow the price of the first cryptocurrency to fall below the last minimum of $4672. If this happens, the long-term growth scenario will be canceled, and the coin will probably fall in price to $4000, Godbowl believes.

At the moment, bitcoin is worth $5150, it has fallen by 2% in 24 hours. Daily trading volume of the coin decreased by 26%, to $36 billion.

Yesterday, March 17, analyst Ayash Jindal predicted the growth of the bitcoin exchange rate to $6,500. Placeholder partner Chris Burniske also voiced confidence in the rise in price of the main digital asset, but he allowed the possibility of reducing the price of the coin to $3000.