Bitcoin’s Victory Over Gold May Continue In 2017
Some peculiar characteristics of Bitcoin have qualified the digital currency to substitute the position of money, currency or commodity depending on the preference of an individual. Bitcoin is similar to gold. Considering its identity as a commodity, a lot of people have considered the cryptocurrency to be similar to gold. Like gold, Bitcoin is durable, transferable, divisible, scarce, recognizable and fungible. These are the qualities that define sound money. Comparing Bitcoin to gold, Netcoins CEO Michael Vogel says that he has always viewed Bitcoin as a digital alternative to gold and....
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There will always be a degree of rivalry between bitcoin and gold as the "king of safe haven assets". Comparisons between gold and bitcoin continue to be drawn, even though these two assets are not exactly alike. The outlook for both speculative assets is looking quite good for now, even though it is hard to predict what will happen next. Both assets can see significant value gains throughout 2017, even though it remains to be seen if that will be the case. Demand for non-currency assets is expected to soar in 2017. With the year 2016 being quite positive for both gold and....
Bitcoin volatility is not at the same level seen during the 2017 bull run but analysts still say lower price swings are necessary to maintain upward momentum. Bitcoin (BTC) has hit a new high above $51,300 in a continuation of its bullish advance that begun in October 2020.According to Bloomberg, the current run is different from the 2017 bull rally that topped out below $20,000 in terms of volatility.Indeed, data from Woobull Charts puts Bitcoin’s 60-day volatility at 14.25%, a significant decline from the over 32% recorded at the zenith of the 2017 bull run.Bitcoin 60-day Volatility.....
Peter Schiff scores a victory over Anthony Scaramucci, and Bitcoin, by convincing more than half the viewers of a live debate that gold is the superior asset. The debate in question was hosted by Intelligence Squared and featured a near one-hour-long discussion on whether Bitcoin or gold makes for the better store of value. The […]
The rise of bitcoin is hurting the gold market and may continue to do so for many years to come as institutional adoption grows, according to JPMorgan Chase & Co strategists. Led by Nikolaos Panigirtzoglou, the strategists noted the declining inflow of funds allocated to gold exchange-traded funds (ETFs) since October, as flows into bitcoin (BTC) funds have swelled almost simultaneously. They said that the move “represents the transfer of billions in cash.” “The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional....
Ripple has been planning a ‘Proper Victory Party’ to celebrate its victory over the United States Securities and Exchange Commission (SEC) for a while now and this could affect the XRP price. This was made public in late August when the company announced the September 29 date. Now, with the Ripple victory party just a […]