Hey kids, did you know some cryptocurrencies are like special digital gold bars? They're linked to the price of real gold! This week, things got a bit interesting.
Gold's price went down a little because of some talk about new taxes on imported goods. This made gold-backed cryptos, like Paxos gold (PAXG) and Tether gold (XAUT), also go down a bit. But other cryptos went up!
- Gold prices dropped a bit.
- Gold-backed cryptos also went down slightly.
- Many other cryptos actually increased in value.
| Crypto/Gold | Price Movement | Prediction |
|---|---|---|
| Gold | Down slightly | Could go up to $3000 according to some experts |
| PAXG & XAUT | Down about 1% | Could rise if gold price increases |
| Other Cryptos | Up (some significantly) | Varied predictions |
Even though gold went down, some experts think it's still a good investment, and if gold's price rises again, then the gold-backed cryptos could rise too.
