Gold vs Bitcoin 2017
Bitcoin prices have officially outpaced gold prices per ounce for the first time in the currencys history. With the bitcoin price in 2017 trading above gold prices, you have a day that cryptocurrency lovers have longed for and bullion bulls have long feared. Indeed, the gold vs Bitcoin rivalry (at least in the medias eyes) is only poised to become more heated as the year goes on. So is Bitcoin the new gold? And whats next for the Bitcoin value 2017? Should you invest in Bitcoin or gold?
First, lets dispense with some of the misconceptions between gold vs Bitcoin 2017.
Bitcoin is not yet a true hedge asset. Why not? Because it simply doesnt have the stability to protect you from extreme fluctuations. Gold, on the other hand, is still far more stable, at least compared to Bitcoin. The volatility of Bitcoin might make it a more prized investment, but in terms of a place to stash your assets in order to protect them from economic downturns or currency value-loss, Bitcoin is not an entirely safe bet.
I hate it when prices are compared like that. It's two completely different assets, and bitcoin is not something you can hold in hand or have weight. Why not compare 1 satoshi to 1 ounce of gold? Or ounce to 1 btc? It doesnt make sense at all, you can compare is one of them better investment then other, but you cant compare prices.