Could this be called digital gold's first victory over traditional gold? And can this trend continue until the end of 2021?Hopefully this trend will continue in 2021, but I am a little worried that Bitcoin price will experience a correction and cause a bearish trend to occur in the middle of this year, because in recent days the gold price chart has also started to rise, although it has nothing to do with bitcoin price. but as long as I watched the gold price chart go up in 2020, the Bitcoin price fell below $10k.
Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.
Could this be called digital gold's first victory over traditional gold? And can this trend continue until the end of 2021?Hopefully this trend will continue in 2021, but I am a little worried that Bitcoin price will experience a correction and cause a bearish trend to occur in the middle of this year, because in recent days the gold price chart has also started to rise, although it has nothing to do with bitcoin price. but as long as I watched the gold price chart go up in 2020, the Bitcoin price fell below $10k.
Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.
I hope the price of BITCOIN isn't affected by any of the share prices, so let's see Bitcoin price hit $ 50k this year.
GoldPrice: https://goldprice.org/gold-price-egypt.html
If I had a choice to buy a few kilograms of gold or bitcoin, then I would choose bitcoin. Gold is heavy metal and it must be stored somewhere reliably and preferably in a bank, since the house can be robbed. And Bitcoin weighs nothing, can be transported across the border, is easily carried in a cold wallet.In fact, you put it very correctly, since bitcoins provide freedom to the user in every sense of the word. Nevertheless, gold provides its owner with the stability and safety of the value of his savings.
I think it's just temporary because as we all know most countries in the world are badly hit by this COVID 19 pandemic even those rich countries are also affected and the Gold demand was reduced while some other countries were selling some parts of their Gold reserves to back up the economy, thats I believe its not a victory of cryptocurrencies that was often called a Digital gold it's only temporary I guess.
I think digital gold is winning. But crypto cant replace gold because it is made out of nothing.It doesnt have any real value. It can go to 0 any time. Also some big institutional investors holding most of the BTC. Which is not good for crypto future.Perhaps we can agree with you, but considering the cryptocurrency is worthless is a big mistake. Theoretically, if you turn off all the electronics in the world, then yes, the cryptocurrency will cost zero, but it still will not disappear. The cryptocurrency will be dormant. Gold is also useless and costs zero when it is in the ground.
I think bitcoin will valuable than diamond.If the problem of price maybe this could be the trigger but for everyone to see then diamonds will be the best because diamonds are a symbol of fashion.
A picture is worth a thousand words. How many times in our life have we heard and said that phrase?. I think this time, with the image shared by @MrSpasybo, it has more value than ever for those of us involved in the world of Bitcoin and cryptocurrencies in general, and shows us the way forward, this is just the beginning.I agree when I saw this picture I stopped and looked at it for about 5 minutes and I think that this is a turning point and this is no longer reversible. Even if bitcoin falls 10 times, this will not change my opinion. After all, it took bitcoin 12 years to catch up with gold.
Calling it a victory would probably be too premature. Digital gold is too unreliable, and the fact that you do not have the opportunity to hold your hands causes distrust. Under certain conditions, it will not have a built-in value, unlike the old "despicable metal". This situation is comparable to that of green energy in Texas. The old, time-tested energy industry has shown that it is much more reliable in the current situation.That's for sure!The media play an important role in this. If you are told from all cracks that bitcoin is more valuable than gold, then you inevitably start to think. But the one whose brain is not clouded and adequate is always able to correctly assess everything.
Calling it a victory would probably be too premature. Digital gold is too unreliable, and the fact that you do not have the opportunity to hold your hands causes distrust. Under certain conditions, it will not have a built-in value, unlike the old "despicable metal". This situation is comparable to that of green energy in Texas. The old, time-tested energy industry has shown that it is much more reliable in the current situation.
The history of accumulating and increasing capital in gold goes back thousands of years, and that is why it will not go anywhere and no normal government will ever accumulate assets in the form of bitcoin or any other cryptocurrency. This is the lot of different funds and individuals.Well, in general it is so. Cryptocurrency is now growing rapidly and spreading all over the world. Investments in it are also growing in volume and this circumstance reduces the demand for gold precious metals. The growing popularity of cryptocurrency, at the same time, causes serious concern for the governments of many states, since the flow of large amounts of capital into cryptocurrency can pose a threat to financial stability in the world.