Post
Topic
Board Economics
Merits 1 from 1 user
Re: Gold Price Prediction & its impact on cryptocurrencies
by
jaysabi
on 07/09/2020, 16:41:45 UTC
⭐ Merited by mindrust (1)
I just read about the prediction that the price of gold will go to the moon


Not only gold but silver prices will also rise high. Both Gold and silver are safe heaven if you are looking to invest your money.

Unsafe Investments: Stocks / Land  Property / Fiat Money
Safe Investments:  Gold / Silver / Bitcoin

Putting Bitcoin as a safe investment along with gold and silver is laughable. Things that routinely fluctuate 10% or 20% in a day are not safe havens to store wealth.  Gold has thousands of years of history as a (relatively) stable store of value, but bitcoin has barely a decade and it's rife with horrific crashes. There's no way you can make a credible argument that something that volatile can be a safe haven. And to be clear, investing in gold and silver doesn't make you rich, it protects what you already have from inflation (generally speaking). So that's why people call them safe havens. On the whole, they're rather terrible investments though.