Bitcoin vs Gold: Which did better in 2016?
While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. The two contemporary safe havens during the times of economic crisis are the representatives of tradition and technology. While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. And seems it is truly a digital age, as proved by recent bitcoin high over gold. The world is increasingly turning to bitcoin as a safe haven. Nonetheless, the demand for gold invariably....
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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 is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....
Bitcoin price reacted little to the Fed’s confirmation of additional rates increases during 2016. Half the market is passively accumulating via limit orders placed just below price, the other half is actively selling at market. In their announcement yesterday, the Federal Open Market Committee retained the target range for the federal funds rate at between 0.25% and 0.5%. The average of policy makers’ new “dot-plots” projects a rate of 0.875% by the end of 2016. The implication is that the Fed will enact two 0.25% rates increases during 2016. The US dollar weakened across the board, on the....
The Winklevoss Twins have described Bitcoin as better than gold because it experiences ‘a lot less volatility’ and is a better store of value at the moment. They cited a Wall Street Journal story in May which described how the virtual currency has been more stable than gold over the last 28 days. Tyler Winklevoss said: “So I think investors who have gold in their portfolio and other precious metals have started to look to Bitcoin as a better store of value. It’s got better characteristics than gold itself. So it’s actually better at being gold than gold. We are seeing investors recognise....
A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the....