Rising gold value - will it reduce Bitcoin's attractiveness ?

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

[Zed0X]

Yeah, the increasing price created a buzz lately and the gold bugs that are also critical of bitcoin must be so happy with what's happening. What are the odds that most Gold investors are aware of BTC as an investment asset and they're investing in both? I think there's a lot of money moving away from fiat that's why I don't think what's happening with gold will affect BTC's price that much.

[DrBeer]

Yeah, the increasing price created a buzz lately and the gold bugs that are also critical of bitcoin must be so happy with what's happening. What are the odds that most Gold investors are aware of BTC as an investment asset and they're investing in both? I think there's a lot of money moving away from fiat that's why I don't think what's happening with gold will affect BTC's price that much.

I think that today's surge in demand for gold is mostly due to some global destabilization and the probability of negative events. Gold is the most effective asset in such times.  Besides, investors' confidence in bitcoin has not yet developed, and it is still perceived as a speculative asset with high volatility, unlike the steadily growing gold.

[Findingnemo]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

According to the experts who I am following for years there will be a dump in the Gold's price overall due to the unusual spike happened this year means there's potential correction can happen at any time.

Now to answer your question Gold can never have such attractiveness as Bitcoin because the volatility like 20% swing in 24hr is normal phenomenon while 20% spike or drop in overall year is a big news that explains what I am trying to say.

[0t3p0t]

Yeah, the increasing price created a buzz lately and the gold bugs that are also critical of bitcoin must be so happy with what's happening. What are the odds that most Gold investors are aware of BTC as an investment asset and they're investing in both? I think there's a lot of money moving away from fiat that's why I don't think what's happening with gold will affect BTC's price that much.

Yeah I agree. Most precious metal investors only focus on that specific assets and maybe most of them did not know about the potential of Bitcoin or they are just scared of the volatility of Bitcoin or just prefer the stable assets.

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

According to the experts who I am following for years there will be a dump in the Gold's price overall due to the unusual spike happened this year means there's potential correction can happen at any time.

Now to answer your question Gold can never have such attractiveness as Bitcoin because the volatility like 20% swing in 24hr is normal phenomenon while 20% spike or drop in overall year is a big news that explains what I am trying to say.

Interesting observation, I'll be honest - I wasn't interested enough systematically and deeply to assume such a scenario. Let's see, watch the market, I do not exclude that it will be as you suggest ! Thank you for your interesting opinion !

[Dr.Bitcoin_Strange]

Gold has been in existence for thousands of years now and Bitcoin has only been in existence for just 15 years and still doing very well in it's growth, Bitcoin will take over from gold and i don't see people going into gold investment more than Bitcoin, one important thing that makes Bitcoin investment more unique is that no matter how small your income is you can start accumulating and that is why you have more people in Bitcoin investment more than Gold investment.
Bitcoin is one of the best investment right now in the world and it has helped build economy of some countries, Bitcoin investment has also made some people very rich, gold investment is only for the rich and one can't carry gold about the way Bitcoin is been done.

If Bitcoin stay the number of years gold has stayed Bitcoin would have been more great than what gold now, for me Bitcoin is greater than Gold, going into gold investment and getting good profit may take you years than getting into Bitcoin investment.

[MUGNIA]

with the current increase in gold prices I think BTC investors will not decrease, because as we know Bitcoin investment provides faster profits than existing physical gold, but we return to our initial goal of investing and the comfort of where we invest, and all have positive and negative sides, pros and cons between gold and

[bisdak40]

If the value of gold continues to rise investors will be more interested in gold because cryptocurrency dropped from its all-time high due to certain factors political uncertainty, geopolitical tensions, economic data, and ETF performance. Many investors are currently prioritizing stability and security which gold can give. If bitcoin rises again it will attract the investors back.

[bitterguy28]

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

investors who know better would not take out their investments from cryptocurrencies and instead will wait for when the bull run hits and bitcoin reaches another all time high cryptocurrencies do not rely on any asset so even if gold rises it does not have any direct impact to the market

What is your opinion on this issue ?

i do not think that the rise of gold again will cause further dip of bitcoin gold has always been a good investment even in times where bitcoin seemed to be doing the best i do not believe that an investor has to choose one over the other if you can afford to buy both: bitcoin and gold then i think you should

they offer different kinds of benefits so i do not see any negative consequences holding both