BTC up 42% year to date while Gold did good at 28%. Will it carry on? - page 2.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: 600watt on July 29, 2020, 01:22:01 AM

not trying to be impolite, but you do realize that you are criticizing someone who posts about bitcoin speculation in the speculation subforum of a bitcoin forum?

This thread was previously in the Bitcoin Discussion section. I reported this topic and requested a mod/admin to move it to the proper section.

600watt

legendary

Activity: 2338

Merit: 2106

Quote from: mk4 on July 27, 2020, 08:28:14 AM

Who knows dood. Bitcoin could keep growing to all-time highs in a month or it could go back down to the $3000 levels in a week.

You've been here since 2013— 3 solid years ahead of me. If there's something you should have known by now, it's that bitcoin is unpredictable as heck, and that speculating what's going to happen in the short term is a total waste of time.

not trying to be impolite, but you do realize that you are criticizing someone who posts about bitcoin speculation in the speculation subforum of a bitcoin forum?

shoreno

full member

Activity: 1750

Merit: 118

Quote from: peter0425 on July 29, 2020, 12:01:54 AM

Quote from: Velkro on July 27, 2020, 07:14:13 PM

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind.

Personally i think prices of gold and Bitcoin are tangled together a bit.
Covid hit economies all over the world, all goverments printing money like crazy making money less valuable.
Things separate from money like minerals or Bitcoin are gaining value because of that.

But it is too early to predict since the question is about the end of this year right?

Gold had been the main tools used by investors but now that they have seen the effectivity of Bitcoin?

there will be a chance that this will totally dump Gold in the future.

But it is early to tell.

the question isnt only for this year end but the question can carry on further because both gold and btc are always close to each other . there are many tools that can be used for trading and i dont think gold is classified as one but gold has its own primary use . so as btc because btc is a currency . when it comes to effectivity both gold and btc are effective tools for trades so i dont think people will switch to each others . there are dumping that can occur but that is only dumping of the price .

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: Velkro on July 27, 2020, 07:14:13 PM

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind.

Personally i think prices of gold and Bitcoin are tangled together a bit.
Covid hit economies all over the world, all goverments printing money like crazy making money less valuable.
Things separate from money like minerals or Bitcoin are gaining value because of that.

But it is too early to predict since the question is about the end of this year right?

Gold had been the main tools used by investors but now that they have seen the effectivity of Bitcoin?

there will be a chance that this will totally dump Gold in the future.

But it is early to tell.

AjithBtc

sr. member

Activity: 1666

Merit: 276

Vave.com - Crypto Casino

Quote from: Botnake on July 28, 2020, 09:00:34 AM

Quote from: ?? on ??

I am confident that the growth will continue.

Same here, maybe this is the time where the market will fully recover and we will once again witness a bull run that we are all wanting to see.
Looks like 2017 is still fresh for us, every time we see bitcoin pump like this, we always expect big, and that is a good mentality as it would make us hype as the price continue to pump.

Quote from: ?? on ??

But I don't think we should expect the same price as in 2017.

You are right and maybe you are wrong too because I expect something bigger than 2017.

if we look at the price history of bitcoin https://coinmarketcap.com/currencies/bitcoin/

Last July 2017, the price of bitcoin was just less than $3000 but it reached almost $20,000 by December.
So if we follow that trend, we start at $10,000 this July, sure by December the price will be over $50,000.. but we can be conservative with that prediction, let's just say $30,000 and it's still a new ATH.

The year 2017 was a perfect example to know the growth pattern of bitcoin. Compared to the growth of reaching $20000 from $3000 what has happened this year as 42% is good. For the same it isn't fair that the price has started to increase from $10000 and takes the price reach $50000 or $30000 by December 2020.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way?

I expect them to rise together.

Gold has just made a new ATH after nearly a decade of consolidation. BTC meanwhile has just broken a year-long bear market and structurally looks poised for an impulsive move to new ATHs as well. Both look very bullish in both mid term and long term senses.

Quote from: vennali on July 27, 2020, 06:33:52 AM

Any technological developments needed for BTC to improve on its way to the moon?

No. Fundamentals do not matter in a speculative bubble. It's all about hype and scarcity of available supply.

bearexin

full member

Activity: 1162

Merit: 168

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

What exactly are you looking to improve? The price went up, there’s no need to be in a hurry here. We have seen how long the price has been circling around $9,000 and that was the same thing that happened when it was stuck between $7000 and $8000. All it takes is time, we just have to chill and wait for the right time and the price will go up, it won’t happen in a day.

Before the end of the year it will reach a price that is more than this and some people are speculating about reaching a new high price. As for technological developments that you’re talking about, the only thing that people have talked about is being slow in transactions, but that hasn’t stopped the price from growing in the past and has never stopped new investors.

STT

legendary

Activity: 4102

Merit: 1454

Arguably the supply of BTC is reduced vs gold which like all commodities sees a wider availability from mining as price justifies higher cost resources around the world. Also oil price is low at present which especially helps gold with its high energy costs, this all works in favour of gold but also means we will see a greater supply in future then now. BTC on the other hand we know has a schedule to reduce supply as the halvening event this spring famously underlined the availability of BTC does not ever increase bar short term sell offs when exchanges may see many orders placed to sell.
So long term BTC has an advantage just so long as the demand is good with a wider population. Gold has good longer term prospects also from being a longer term established market. Dollar value has been dropping just recent, my current theory is it may be caught up in a range demonstrated in March from peak to low. If we do see a rise on dollar it puts pressure on BTC and gold most likely.
Heres a chart comparing the various macro global assets and the article to go with it that discusses FIAT supply is below

Quote

zerohedge.com/markets/goldman-warns-real-concerns-are-emerging-about-dollar-reserve-currency-goes-all-gold

Botnake

hero member

Activity: 2856

Merit: 667

Quote from: ?? on ??

I am confident that the growth will continue.

Same here, maybe this is the time where the market will fully recover and we will once again witness a bull run that we are all wanting to see.
Looks like 2017 is still fresh for us, every time we see bitcoin pump like this, we always expect big, and that is a good mentality as it would make us hype as the price continue to pump.

Quote from: ?? on ??

But I don't think we should expect the same price as in 2017.

You are right and maybe you are wrong too because I expect something bigger than 2017.

if we look at the price history of bitcoin https://coinmarketcap.com/currencies/bitcoin/

Last July 2017, the price of bitcoin was just less than $3000 but it reached almost $20,000 by December.
So if we follow that trend, we start at $10,000 this July, sure by December the price will be over $50,000.. but we can be conservative with that prediction, let's just say $30,000 and it's still a new ATH.

so98nn

hero member

Activity: 2114

Merit: 603

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

The two can't be compared both in terms of nature and abundance!

Bitcoin:

1. Limited supply but limited users since not everyone use it throughout the world.
2. It holds lot of value based on it's market capitalisation and there is no reserve fund for it, it's value can be drawn at anytime. No regulations!
3. There is no way one can control it's existence, if government started imposing strictest regulations by uniting then it will end up in dust!
4. It's volatile and prices can never be predicted even based on the enough data.

Gold:

1. Limited supply with ever growing number of users.
2. It holds value based on it's demand, limited supply, it's attractive nature to mine more and more. It does have reserve holdings in the banks and could settle at fair price if something goes wrong.
3. It is one of the asset of government from where it gains huge taxes and thus will never impose ban on it.
4. It's not volatile, it keep growing exponentially and will keep rising over the time.

FYI: I love bitcoin a lot but as matter of price comparison I think we must consider above prices. It's always gold which is far more secure.

TalkStar

copper member

Activity: 1204

Merit: 737

✅ Need Campaign Manager? TG > @TalkStar675

Modern age investors are pretty much interested to test new field of investment and bitcoin is in their choice list. Investing in gold is a old trend and people like to invest on this for its price stability but its not the favorite option for them who don't dare to take risks. You will not find any field of investment which is riskfree but you have to compare the the level of risks. Bitcoin is like digital gold now and continiously showing its potentiality.

You can take a look on this, Bitcoin vs. gold: What should you know before buying?

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

gold can never even come close to bitcoin in terms of price growth in long term. there may be times when gold mimics bitcoin but in the end we always see that bitcoin is going up a lot more than anything else you can think of.
it is simply because bitcoin's adoption, unlike everything else including gold, is still pretty tiny and it is offering a unique and well needed utility which makes its adoption a lot bigger hence the rice is equal size to that adoption hence the bigger price rises.

Finestream

hero member

Activity: 3052

Merit: 606

This only happen due to the corona virus, let us not expect that bitcoin will continue to outperform its competitors especially with gold which is very stable and has proven a good investment for decades already. BTC is up for 42% this year to date but that wasn't the case before, look, crypto market have struggle in the last two years and bitcoin has not fully recovered yet especially the altcoins market, so this is maybe the chance for the market to rise but for stability in the long run, that's something we can't guarantee.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

The question is , does it really need to have such comparison when it comes to their price increase annually or a on specific time? People do keep on doing this since where btc do being compared out
from stocks/currencies and gold which to think that they are indeed different market. When it comes to volatility aspect then theres no doubt that Bitcoin do have it but we know on how precious is
Gold is and when it comes to security and confidence then nothing beats out to this precious mineral.When you are serious on making profits then you can have both as you like.

DeathAngel

legendary

Activity: 3304

Merit: 1617

#1 VIP Crypto Casino

Negative interest rates are a thing now, fiat money is going to drop in value due to constant money printing. People with money are getting out of fiat & into gold & bitcoin, I predict both will keep increasing in value whilst we go through a great depression due to covid.

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind.

Whenever there is a crisis, the rich run for gold so it is complicated to keep comparing bitcoin and gold. my advice: invest in both because with gold the person is less at risk and with bitcoin the person enters the most aggressive way taking many risks and earning a lot of money. the combination of gold and bitoin is a good thing

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

if bitcoin succeeds in breaking the $ 13,000 then we will see a price growth much higher than the gold price increase

Cnut237

legendary

Activity: 1904

Merit: 1277

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date

Year to date is probably not hugely relevant for something as volatile as bitcoin. It's up over 100% since late March, and is at roughly the same price it was a year ago.
If you're looking for a good way to visualise the price trend, I'd say use CMC with the chart set to 'all-time', and use a log scale so that historic data at lower price points doesn't just smear into a flat line.

Scripture

full member

Activity: 1303

Merit: 128

Bitcoin breaks big walls along its way and easily reach the level of $11k which I think can still go up to $12k right before we enter the ghost month. The correction will begin on ghost month which is very common and we can see its previous trend during that month. Bitcoin and gold is both great, if you can have these two then much better.

Quote from: cosmicrays on July 27, 2020, 10:53:39 AM

Bitcoin may stop abruptly, and gold will gradually continue to grow in price.

No one can stop the gold despite that no one can know the total supply of gold, but I don't think bitcoin will stop from growing even if we totally mined its whole supply.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: vennali on July 27, 2020, 06:33:52 AM

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

a year ago in July 2019 btc was well over 13000 and it is now 11000.

june 27th 2019 btc was 13300

so it is not that hot

of course pick june 27 2012 to now it is really hot Wink

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: cosmicrays on July 27, 2020, 10:53:39 AM

Bitcoin may stop abruptly, and gold will gradually continue to grow in price.

We can't really compare, Bitcoin is still fairly young as Gold has been the solid choice to hedge your wealth for many years now.

They could decouple or not, so it's better to see how Bitcoin will grow by it's own and not compare it to assets, like Gold, the only thing that is similar is in terms of being scarce. So there will be gold bugs around, traditional investors who would rather put their money on it, and of course the obvious crypto enthusiast and maximalist - HODL mentality.

Topic: BTC up 42% year to date while Gold did good at 28%. Will it carry on? - page 2. (Read 513 times)