Gold has a profound impact on the value of world currencies. Even though the gold standard has been abandoned, gold as a commodity can act as a substitute for fiat currencies and be used as an effective hedge against inflation. There is no doubt that gold will continue to play an integral role in the foreign exchange markets. Therefore, it is an important metal to follow and analyze for its unique ability to represent the health of both local and international economies.

Bitcoin on the other hand has proven nothing but price inflation due to law supply and demand. It cannot replace or compensate the value of fiat currencies at the moment. Maybe a few more years and it can become better than gold.