Effect of higher value of bitcoin

[thamee]

What is the effect of higher value of bitcoin to the price of gold in our contemporary world wherein cryptocurrencies are now very popular and widely patronize?

[sugarchrisp]

It's hard to say honestly.  Most treat bitcoin as a store of value, but the high fluctuation kind of chases some of those people out of the space as well.  When bitcoin is higher value though, most other cryptos also follow suit and also rise in price.  As the market gets more saturated with people, I would expect gold and other commodities to follow trends in a similar way, but not nearly exact as it is with bitcoin and altcoins.

[Arendra]

I honestly don't know the impact of the high price of BTC on the price of gold. I think the price of gold will have no effect, even though the price of BTC rises. because so far not everyone knows investment coins like btc.

[Silverstone]

What is the effect of higher value of bitcoin to the price of gold in our contemporary world wherein cryptocurrencies are now very popular and widely patronize?

I think if bitcoin's price gets higher, other crypto coins will also gets higher price.

[Third]

I think nothing. Gold will always valuable and will not lose its value because it is the most in demand natural resources since the beginning of time.

[Crypto Guard]

gold and bitcoin are different. I think if there is a price increase on bitcoin, there will be no impact on the price of gold. the impact of the increase in bitcoin itself will only affect the price of altcoins.

[gotbounty]

I think that's right. now crypto digital money is increasingly in demand, even in countries like the UK, government crypto money has been recognized there. and that encourages other interested parties to use crypto money.

[Silverstone]

What is the effect of higher value of bitcoin to the price of gold in our contemporary world wherein cryptocurrencies are now very popular and widely patronize?

I think there will be lots of people will invest bitcoin, and since we are still using our fiat money, maybe it will affect its price too since bitcoin also affects the economy.

[Jaguar]

Bitcoin is decentralized and yet couldn't beat by gold and silver in our time. The more years pass, the more high the value of bitcoin. Maybe because of huge demands and much wider influence.

[Negan]

Well if the value of bitcoin will get higher, so the other crypto currency will also get higher.

[Crypto Prime]

in my opinion bitcoin is more likely to be a long-term investment. because if compared with gold bitcoin tends to be more promising greater profits. maybe in the future people would rather save Crypto than save gold because they want to keep up with the times

[Arendra]

I think Bitcoin really influences coin prices on the market. because Traders use Bitcoin more than other coins. When bitcoin is valued higher, most other cryptos also follow and also raise prices. even though the price of Gold can't be like that, but I hope Gold can always follow prices like the price of Bitcoin on the market.

[Black ID]

The difference between gold and crypto is from its shape. if gold can be seen, but if crypto isn't visible. but in my opinion the more profitable and higher price is Crypto. but also crypto prices will not affect the price of gold. because it's different from gold.

[expander]

Gold and Bitcoin are different so there is no influence from one another. Investment gold that can be held and the price is more stable. Where Bitcoin is more comparable to Dollar investment. But Bitcoin prices are more volatile and unstable.

[thanks rye18]

What is the effect of higher value of bitcoin to the price of gold in our contemporary world wherein cryptocurrencies are now very popular and widely patronize?

I think the price of gold will become cheaper as the price of bitcoin is going higher because the gold price is very stable but if the bitcoin price will drops the gold also becomes expensive.