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? 

---

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.

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.

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?

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  .

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 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.

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.


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

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.

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

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.


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 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.

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?

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.

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.

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.

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. 

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


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

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.

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.

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.

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

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.

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.

We better forgot the gold here because there is no such significant effect on its price as what happens to Bitcoin by now. The surge of Bitcoin as we currently experience today will definitely not affects gold in return. We can imagine how volatile is Bitcoin unlike we saw for gold, in fact, there is no such Bullish term in gold which unlikely to hear and see in the crypto market.

Bitcoin price is moving straight forward after surpassing the $10k wall, but we can expect for its continuous market gains. Because after this surprising market jump, dumps as to follow, we have this scenario almost all the time. Can't just ignore this thing.

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

Gold, silver, copper and lead are all up. Fiat currencies seem to be dropping. It's difficult to know what one should use for comparison.

I believe that Bitcoin is the only hard digital asset, so maybe we should use a basket of " real "assets for the comparison. Now how about rare earths. They really aren't so rare, but production has been controlled by China. This is changing quickly, so their prices will drop as other counties expand their mining interests, and this could affect the price of some of the precious metals.

On the current pump, I can say that gold really lift bitcoin up to where it is now and I support this two because of their real value. The market struggles a lot on the past months and its good to see bitcoin actually pumping along with the good altcoins, gold will never be left behind because it is acceptable by many. If bitcoin breaks another wall, I optimistic for the price of $12k.

     I personally think that comparing bitcoin related numbers with numbers related to gold wouldn't really do much for anyone concerned since they are both like water and oil. It really doesn't make sense. But for the sake of it, I don't think bitcoin will stay as so because clearly in the past years and months we have seen it move a lot unlike gold that almost doesn't make moves. In short, it is less likely volatile compared to btc.

Yeah, you know how Bitcoin is. Spends most of the time doing nothing and 1% of the time near ATH, and any which way you look, loves to go in parabolic cycles that means if you don't catch the top, you'll spend most of your Bitcoin holding in tears UNLESS you dollar cost average like us smartie pants.

Gotta say those gold fellas been doing it far longer than us though and their long term is much farther in the horizon than us.

Think gold will catch up on BTC this year, and we still have a good 5 months to see what Bitcoin does.

I think bitcoin is highly risk asset compared to gold. I know both fan go up and down but we can be sure that bitcoin is more volatile than gold based on the past history. I like how the bitcoin moves lately and continue to rise even there are market crisis happening. Im more bullish though on digital crypto than gold.

Anytime it could also got dumped. Knowing many whales are having fun to play their funds on the market.

First of all, I don't want to compare bitcoin with gold. Gold has real-life existence and Bitcoin is a digital decentralized cryptocurrency. Gold doesn't need to be backed by Bitcoin backed by the community. The most important thing is Bitcoin is high volatile cryptocurrency and gold price is stable. So, compare the price trend bitcoin & gold wouldn't possible. You might indeed get a high return from the bitcoin due to volatility, at the same time you might lose huge funds as well. Most of the time Bitcoin price trend is higher than gold. I believe it will happen always, we can't imagine after 20 years where will be the bitcoin price but believe gold can't run with bitcoin anyway.

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.

The current worldwide economic status makes this happen. And, imo, we are only getting a very quick glance of what's to come. Whether BTC is about to follow the uprise of safe haven assets or not is the never-ending debate that makes no sense anyway - it's us who will decide whether it is or not.

Personal opinion: the elderly will purchase more gold, the younger will lean towards BTC for a safe investment. We'll see what's going to happen. If the above comes true, BTC and Gold will go in tandem.

Rather than go by the nuerical increase via the percentage scale of determining the upscaled price of bitcoin as compared to gold, i will preferr to work with the number of people who have gained knowledge of the technological framework of bitcoin and has been the driving force behind the increase in advantageous competition between bitcoin and gold.

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?