Topic: BTC up 42% year to date while Gold did good at 28%. Will it carry on? (Read 513 times)

Those retired and receiving a pension will have saved income over their entire lives in order to now withdraw that saved value.   Its about saving the value and avoiding losses while reducing and receiving a safe income.   Gold pays no income just security only through investment in companies which an aggressive risky situation most of the time.   Crypto is very new still and barely can justify dividends, either way its risky so neither are especially suitable but gold at least could argue for long term price stability through periods of inflation and deflation so of the two thats more likely to be chosen.     

I'm not sure the elderly population is going to be buying any more gold right now, especially since the price has gone up so much as of late, nor do I think the younger generation (or people of any generation) view bitcoin as a safe-haven asset.  At least IMO they shouldn't, because how safe is an investment when it's more volatile than precious metals, the stock market, commodities, bonds, and pretty much everything else?  Young people might be buying it as an investment, true, but I seriously doubt that's because they want to protect their money against inflation or even hyperinflation.

As far as what OP is asking, I think bitcoin is likely to continue to increase--but there are a lot of variables which could keep that from happening, including what the COVID-19 outbreak does and if we start seeing signs of a recession.  Gold I'm not so sure about.  Usually when metals start moving upward, there are bad things on the horizon.  If we do end up with a global recession (or worse) I'd think gold & silver would continue their trend....and that's not something I'm hoping for.

It all goes up to usage and so many industries are attracted to decentralization and blockchain usage and because of this the value of Bitcoin and other altcoins are making their way to big companies and institutions, Bitcoin is on it's way to the moon no doubt about it and it's only a matter of time, just surprised that it is making it's move now.

i did not know this; your reply makes a lot more sense now that I know. 😀

If you are talking about the time when all the 21 million bitcoins are mined then I can be sure the world would go fully digital in terms of payment by then and most of the population would be holding cryptocurrencies with them as an investment, which the banks and government are afraid of.
But if you are talking about the maximum price of bitcoin then there isn't any way possible to determine the maximum price, if the demand for bitcoin rises then the price also increases and vice versa. I think gold won't be the ideal investment for many in the future and will be replaced by bitcoin or any other investment option.

The view for gold or argument often made is the gold price never alters, the price of dollar has fallen.   That would match up with other measures and obviously we do see inflation as more dollars are required to buy the same amount of goods and so is true with gold.
    Unsustainable is more the description of factors relating to the dollar, the fiscal budget, the trade deficit, the amount of debt accumulated over years and the time scale to repay being just being 4 years on average; all creating pressure.   Dollar is used globally, its not just 1 set of accounts to consider but the trend has dollar weaker imo.   There is a bias towards devaluation that lies more on dollar then gold, to say similar of gold requires we vastly increase the supply of gold quite suddenly and historically gold is slow to rise in production with the time scale of a new mine taking ten years.      Eventually it will be true that gold production matches the trend in dollar but I'm not feeling thats where we are now or not long term anyway.
   Gold selling off from its peak price and below $2000 makes sense but its aesthetics more then underlying dynamics imo and I'd say the same for 10k BTC, this current ceiling might be the real resistance.

tl;dr  QE is not reversible hence dollar price weakness all round is likely.  

I do not think that it will carry on going like this, specially for gold because it is not sustainable. I understand that economy all around the world wasn't doing great so people moved towards gold since that would be a wiser choice for people and I understand the concept of it, however at the same time I believe that people are not really going to do anything remotely closer to that ever again, whoever did that did it already, in order for it to carry on someone needs to do it all over again and I doubt it would happen all over again once again, that would be twice in a row and unless pandemic suddenly goes up a ton like the march period all over again, that is not going to happen. Bitcoin on the other hand is a volatile weird thing, it could be 0% ytd tomorrow, or it could be 200%, who knows.

Its not fair to compare gold and BTC growth comparision.For Gold the growth is huge and it may not happen all the years while the growth in BTC which is expected to come this year but little bit late due to the covid 19 chaos.BTC will keep growing for sure but for Gold it may not be.

Bitcoin is already doing good on technical aspects but the prices of transaction fee becomes an issue whenever the bullish trend begins.

In any case, gold and cryptocurrencies are among the best investments. But there are a lot of unpredictable factors in the cryptocurrency market that affect quotes. compared to cryptocurrencies, gold does not have such global price fluctuations. Today, many cryptocurrency users are most interested in cryptocurrency and its volatility, but it is very difficult to predict what will happen after Bitcoin, for example, reaches its maximum.

In hard financial times the price of gold can also be unpredictable and it can also be volatile just like cryptocurrencies. The fact that due to the economic tensions going around and the governments printing a lot of money the value of fiat currencies is becoming lower and lower so the demand for a safe investment is going up and the most affordable investment that is tried and tested is always gold. People feel safe investing their money in gold so the price of gold is now increasing in these times. But cryptocurrencies are still the instrument of investment for somewhat tech-savvy people and thus they are investing in bitcoins and getting better gains than investing in gold.

Gold can't keep up to the bitcoin price increase (success), I think the only reason both currency/asset are currently recording close returns Is as a result of the global pandemic that hit bitcoin price very hard, driving the price to an all time low of almost $3k. Bitcoin so far has risen to a new all time high record for the year which just goes to show the potential bitcoin has in terms of achieving more in regards the price increase.

The fed printing more money in their trillions to combat the virus and economy downtrend contributed to people wanting to own more gold which increase the price as there was more demand in the market. They most haven't heard about the digital gold which is bitcoin but with time, when people starts realizing them owning gold isn't more safe or profitable than owning bitcoin then the difference will be clear as the price success of bitcoin would be far above that of Gold.

If somebody really knows what can happen to the future then kudos to him . A great psychic indeed.

My point is no one can say what will happen to Bitcoin. It can go ATH this week, it can go up to 3k in the next month, it can go up to 15k next month. What we can do right now is to predict but to answer your question, well there is a chance that it can carry. We already saw a huge spike in the price of Bitcoin. If this will be sustained in the next weeks then it is a good sign for it and vice versa.

Its just my opinion only and that is what most people can do - to predict and share their opinion but the chances of it to happen are low.

Not so unlike the relationship between BTC and altcoins.

Silver followed gold down after the 2011 top. It even made a 5-year low this past March. Yet now that gold is at ATHs, it's suddenly gaining 33% inside of a month! Just incredible, and really goes to show how market sentiment and money flow work together during strong trends.

Just wait until BTC pokes above $20K. Not only will it kick the BTC hype up a notch, but it'll reinforce a bubble in altcoins too. I can't wait!

Most for hyping I guess, but seriously it's two different entities, though both being used for investments.


No one really knows, everything depends from how people around bitcoin will react.


Point is there, bitcoin still have huge volatility that really affects the it's value, mostly being interfere by fears, while
gold have strong ground as being supported by bigger institutions that will keep the drop more lesser.

Why do people keep on comparing bitcoin value with golds value? I mean those two are completely different things, right?
Anyways, back to the question "Will it carry on?" - Who knows? It might, it might not. One thing we know is that the price might go down 42% while the price of Gold dropping this bad is unlikely to happen.
All I am trying to say is the price of Bitcoin cannot be predicted, it is more extremely volatile when compared to the price of gold. No one can answer if it will carry on or not. 

It is obvious that Bitcoin is a riskier asset than gold due to it's high volatility.  Though I agree that we shouldn't compare BTC to gold but we can't help it since many believe that Bitcoin is the digital gold. 


Care to say what makes you think that Bitcoin is undervalued?  Aside from the small  finite supply and being pioneer, what else does bitcoin offer in terms of technological advancement against other cryptocurrency? 

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Anyway, as of the price increase if it will carry on, we will never know, since the Bitcoin market is so volatile that it may rally really strong today and dump by tomorrow. 

Bitcoin is already undervalued if you ask me, while it is important for bitcoin to keep improving at the same time bitcoin is already way better than fiat and gold, the only reason those two forms of money have so much market cap while bitcoin does not is that bitcoin is still relatively new, but as time passes and people realize the great advantages that bitcoin offers over those two forms of money the price of bitcoin will keep increasing over the long term.

Both are so different to each other. One is ancient (Gold) and other is current time (Btc). There were so much comparison you can find between the two in the forum that will bitcoin outclass gold, or will bitcoin surpass gold etc. But in today's time both of this are gold for an individual if they had bought some months before only would be levering today the rise which has happened in this short span of time. Stocks markets may not have done that well due to obvious reasons in this pandemic, but both has surpass any other investment made if made in other asset class.

Speculating short term is so incredibly profitable if you get it right, year to year the price might only register a difference of 10% perhaps as we go in circles but I can also make that in just one single day like Monday.   Its hard to know when to be involved and when to take profits but I wouldnt say its a waste of time to try.

Silver will follow gold, thats the simplest take to have on what can be quite complicated.   A precious metal thats also industrial has contradictory elements to it but it will follow gold eventually.   People watch various ratios, Silver to gold and also Gold to oil as so much energy is used to mine gold the two have a link for sure.   These ratios are probably indicators of value to some extent, trends, etc.


Gold is a bull market measured in decades, the largest most reliable buyers are central banks who have been net buyers since the start of this century basically.   Also these buyers are holders who dont alter their reserves for decades, its about the most reliable trend we can follow.   Going on that basis and we're well into macro economics at this point, this trend isnt likely to alter; they are deleveraging dollar global reserve risk.
  Gold is a very reliable bull market, its also the case it took from 2011 until now to recover its ATH which makes it far slower then BTC.   BTC is far more growth based, probably is going to be more profitable to speculate on and be involved in but it definitely has more risk to it imo.  So thats fair, generally risk relates to profit potential in any market.


Silver is more volatile, its fair to say its cheap but its for good reasons with unprecedented economic dropoff and volatility.   Tons more risk in speculating on silver.   I just took stock in the worlds largest miner which importantly also has gold so will survive either way.   Hard to guess but Im obliged morally to mention such a solid commentator as this website: pricedingold.com/silver  and they track the ratio in graphs reliably without too much bias or hype.  But yea I agree it'll get hyped, repeating history.

I believe Bitcoin will do better then gold until end of the year. Both will most likely be positive. Question is what will happen with silver. We might get huge hype about it.