Gold is a valuable precious metal, while Bitcoin is a digital coin. But the similarities between them are deep. Both are mined, one physically and the other digitally. But if we look closely at the history of gold, the Bitcoin follows the same pattern of behavior that we have seen in gold.
Prices rose in 1971, when President Richard Nixon announced that the US dollar would not be supported by gold when demand exceeded supply. A major development in March 2003 saw the first ever gold-traded gold trader from the Australian bourse, behind Deutsche Bank. This has caused gold to rise from about $ 20 to $ 30 an ounce to $ 600 an ounce, an increase of 300%.
Before the advent of the first gold trader, it was not easy to invest in gold. But it was easy to buy gold, but at that time, the cost of acquisition and storage was high. But with traded funds, this allowed gold to be owned without actually owning it. Similarly, if the bitcoin trading funds are approved, this may be an important news for developers. The acquisition may be approved by the ETFs as early as 16 August 2018, although nothing has been confirmed so far.
In the past when this happened to gold, we saw a huge increase in the price of gold by 300%. If this happens for developers, this will raise the price tag to $ 60,000, which is expected by some well-known investors. If the price of this form is raised to this level, this will give us a market value of $ 1.26 trillion. So we're looking at 940% returns based on the current price of $ 7,000. As for the yellow metal, it has an estimated market value of $ 8.7 trillion with all the gold extracted.
In the end, investment is not without risk, but if regulation becomes clearer, it may help protect its owners.
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Topic: BITCOIN / GOLD (Read 715 times)