Post
Topic
Board Economics
Re: Bitcoin vs. Gold Prices
by
BobK71
on 01/12/2017, 00:03:07 UTC
This question becomes my concern a few months ago when bitcoin started to gain a tremendous value within weeks.
Whoever invests Million of dollars into crypto-world at the cheaper price could harm its price after it reaches the peak, especially at this point, due to bitcoin price increase rapidly like $1000 per day. It won't stop soon imo as bitcoin futures still not activated, but when the correction comes, it may hit the market so hard. The only thing that may hold bitcoin price is people who believe in bitcoin as an asset, commodity, currency, or a better monetary system compare to fiat currency. At least, Million of dollars have been spent in this market, people don't want to lose their investment, especially for miners and exchanges.

With any other asset class, I would agree with you.  The fast rise would be a problem.

With Bitcoin, which claims to be money and occupy the central part of the system, I think things are different.  If the elites promote it to be their new monetary base (which I think has a good chance of being true at this point,) it will have lots of room to go further.

As I mentioned, this is not a sure thing yet, but at these price levels, I believe Bitcoin is still a good bet.