This is not even funny bitcoin is outperforming gold by double. Gold is stagnant stuck in neutral around the $1,200-$1,400 range for 5 years while bitcoin is thriving as an asset class. Why is it?
Central Bankers? Government control?
Could it be that central bankers or governments hold to much control over the price of gold? They don't want gold to be like bitcoin because could it possibly make their fiat worthless? What is the true reason?
Free Market
I believe the true reason is bitcoin is a 100% free market, the price is 100% set by the faith of users and not based on anything else it is a free market no government control. Gold on the other hand can be controlled and manipulated. Gold I believe is not a 100% free market due to wallstreet control, government control and central bankers control.
#bitcoin #crypto #gold #cryptocurrency
I think gold is heavily controlled manipulated, but not to prop up fiats... but the opposite; countries like russia, japan, china, etc are incentivized to suppress the price of gold so they can accumulate at a cheaper price... once they have enough stock piled, when king dollar implodes... they wont break a sweat... so i agree with the other poster... gold will have its moment in the sun... just gotta be patient
Remeber... as much as the free market loves crypto's.... governments cant/wont conduct business with each other with crypto's (at least no time soon) but they can and will in gold
Yeah I agree it could be because it's free market. But I'm no expert at this so who knows :D
Each person has their own choice for a portfolio and I am a big supporter of Bitcoin and cryptocurrencies but I see why some investors would not want to put anything into it. Stagnancy is stability and for some investors, having something they can trust will return an investment consistently will be held higher than an investment that is uncertain. Bitcoin is an example of this and while it could possibly make a big return, it could fail to make any profit. This post made me recall a conversation I had with a family friend who was shocked when I was discussing how bitcoin could change 5% easily in a day.
Gold will have its moment of fame. Just be patient.
Gold is and has always been an asset to hold, Bitcoin and gold will work together to provide early opportunities for the crypto space but governments will find a way to get tax of bitcoin I don't think they will want to control it because the governments need bitcoin to rise just as much as we want it to. So no control but taxation for sure
that drop though.