Bitcoin ,Gold and the global market collapse - page 2.

finzyoj

sr. member

Activity: 644

Merit: 255

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Hmm, so the Gold is now growing and btc continuously drops. That's very hurtful to know but let's admit the truth, I thought btc can now exceed the $10k mark but we can see in the market trend that we're not yet there Sad

. So disappointing.

Quote

According to eToro analyst Mati Greenspan, Gold is “skyrocketing” and close to reaching “multi-year highs.” Meanwhile, Bitcoin, has struggled to maintain its price at $8,000 after being rejected at $9,000, and is currently trading at $7,600.

But anyway, I've already seen such kind of dips and actually even worse than this (remember the bloodbath after China's banning of ICOs?) so it doesn't scare me any longer. I 100% believe that btc can and will bounce back for the good of all of us.

Genemind

sr. member

Activity: 1596

Merit: 335

Gold is the safest choice if ever this trade war will continue.
The stock market has been doomed by different uncertain situations before and it's a good thing that people could rely on gold and bitcoin as an alternative. The trade war that's happening between China and US will affect the stock market but it won't affect blockchain and gold that much.

Astvile

sr. member

Activity: 1484

Merit: 276

Quote from: figmentofmyass on June 08, 2019, 12:20:38 AM

Quote from: sandra_x on June 07, 2019, 08:07:25 PM

The stock market is doomed to face some difficult times ahead,the trade wars between the US and China is getting worse and it calls for concern that we may be on the brink of a global economic collapse. This forces many asset managers to look for alternatives asset class to spread their risks.

this is a commonly held belief among bitcoiners---that funds/investors will search for a new class of assets to invest in if the economy crashes.

but why? that's not what usually happens during economic crashes. what usually happens is "cash is king". everything crashed during the 2008 financial crisis, including gold. why would money flow into crypto this time?

We already learned what will happen if the stock market will be doomed again or f there wll be a crisis that will rise again.Bitcoin can be an option if and only if managers needs to look for alternatve assets to spread their money and invest.But most probably that thing wont happen.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: sandra_x on June 07, 2019, 08:07:25 PM

The stock market is doomed to face some difficult times ahead,the trade wars between the US and China is getting worse and it calls for concern that we may be on the brink of a global economic collapse. This forces many asset managers to look for alternatives asset class to spread their risks.

this is a commonly held belief among bitcoiners---that funds/investors will search for a new class of assets to invest in if the economy crashes.

but why? that's not what usually happens during economic crashes. what usually happens is "cash is king". everything crashed during the 2008 financial crisis, including gold. why would money flow into crypto this time?

pooya87

legendary

Activity: 3472

Merit: 10611

i have the same views, more or less. i believe that because bitcoin had never had any connections to any of the other markets including gold, stocks,... and instead have always been a stand alone market moving for itself, that means that it can be considered an excellent choice for diversification and in cases like a collapse an escape route for investors to take. which is why i believe that in case of an economic collapse bitcoin price can rise with a fast speed.

but also bitcoin is still unpredictable and small. so we can't really be sure about what will happen in the chaos in that scenario. not to mention that chaos itself creates a lot more unpredictability.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Gold is traditionally considered to be the safe haven by many investors and fund managers especially on times of trouble. When there is that pervading sense of gloom, they are looking for something stable, valuable and reliable thus gold easily comes into the picture. However, there is that digital mirror of gold and we call it bitcoin. Bitcoin is likewise valuable albeit it can be volatile but for someone looking for an opportunity for a greater returns this is the best choice. Thus, if things are turning out to be worse in the global economic scene as the result of the ongoing trade war between superpowers China and USA, many can hop into both the real gold and the digital gold.

sandra_x

member

Activity: 574

Merit: 14

The stock market is doomed to face some difficult times ahead,the trade wars between the US and China is getting worse and it calls for concern that we may be on the brink of a global economic collapse. This forces many asset managers to look for alternatives asset class to spread their risks.The choices are always in favor of assets which do not have a positive correlation with the stock markets.bitcoin seem to be a perfect fit.Currently, there is so much attention on Gold after the recent dip by bitcoin,Gold is at a multi-year high.With a possible recovery by bitcoin,we may be seeing huge influx of cash into bitcoin from funds manager as they cash in on the tide. Wall Street may finally stick with bitcoin.
https://www.newsbtc.com/2019/06/06/gold-skyrockets-as-bitcoin-price-plummets-which-wins-battle-for-economic-hedge/

Topic: Bitcoin ,Gold and the global market collapse - page 2. (Read 328 times)