Gold Price Prediction & its impact on cryptocurrencies - page 2.

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Quote from: 2double0 on September 26, 2020, 03:59:25 PM

Quote from: Sirait on June 27, 2020, 01:04:49 PM

<<>>

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD stable coin

give your opinion

When a cryptocurrency is backed by Gold, I think that it should be worth the same price which Gold have/will have in the future. And to reach that price, gold will need too much money to be poured in it by the investors to let it take off. Instead, I see it going inverse and getting crashed a bit. The aggregate value of gold is much less compared to what we see in the markets, but the demand after covid-19 surged for gold and that is the only source for Gold to remain high.

In this corona,some hidden money had play a vital role.And it's one of the cause of the rise of demand of the gold.Secondly many marriages was get into action and increase the demand of gold in the market.The gold merchant made a statement of,the demand is high and we can't get gold to corona.Like this the price of gold reached the new high price.

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Quote from: Sirait on June 27, 2020, 01:04:49 PM

I just read about the prediction that the price of gold will go to the moon

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World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital. This is a New York-based fund management company focused on gold research (Myrmikan Research) and fund manager Myrmikan Gold Fund.

Referring to the rules in the market, one troy ounce is equivalent to 31.1 grams, so the amount of US $ 10,000 per troy ounce projected by Dan Oliver, then converted by dividing the number by 31.1 grams, the result is the US $ 321.54 / gram

the price of Gold for the past few years
snip

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD stable coin

give your opinion

Over the long term the price of gold should always go up, after all even if gold is mined every year the rate at which this happens is lower than the rate at which governments print their fiat currencies, however the speed at which this happens is very slow compared to bitcoin so anyone thinking about investing in gold should think about doing so over at least a decade and even that amount of time could not be enough to see any results if paper assets perform well during that time.

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Quote from: tvplus006 on September 27, 2020, 01:12:58 PM

Quote from: bits4books on September 12, 2020, 05:12:26 AM

Have you ever wondered why metals are used for savings? Yes, because it is a PHYSICAL object with which nothing will happen and which is independent of electricity, the Internet and the blockchain.
...

Traders who invest in gold are no longer dealing with a physical object. For such investors, gold has long been a digital currency, which is expressed in numbers on the monitor screen. Although everyone understands that this digital asset cannot be exchanged for physical gold.

That is not always the case, I know some friends of my parents who are older and they all store real gold at a deposit in a bank. Among the elderly population it's pretty common to invest in physical gold, they just don't trust financial derivatives that mirror the gold price. In my opinion the motivation to buy gold is very similar to buy cryptos. Investors want security which they can't find in the traditional assets like stocks and bonds.

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To the Moon

Quote from: bits4books on September 12, 2020, 05:12:26 AM

Have you ever wondered why metals are used for savings? Yes, because it is a PHYSICAL object with which nothing will happen and which is independent of electricity, the Internet and the blockchain.
...

Traders who invest in gold are no longer dealing with a physical object. For such investors, gold has long been a digital currency, which is expressed in numbers on the monitor screen. Although everyone understands that this digital asset cannot be exchanged for physical gold.

2double0

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Quote from: Sirait on June 27, 2020, 01:04:49 PM

<<>>

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD stable coin

give your opinion

When a cryptocurrency is backed by Gold, I think that it should be worth the same price which Gold have/will have in the future. And to reach that price, gold will need too much money to be poured in it by the investors to let it take off. Instead, I see it going inverse and getting crashed a bit. The aggregate value of gold is much less compared to what we see in the markets, but the demand after covid-19 surged for gold and that is the only source for Gold to remain high.

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I don't think the price of gold influences the price of Bitcoin.
Both act due to the supply and demand of the market. It is interesting how Bitcoin has been compared to a currency, a commodity in relation to gold. What makes us show that Bitcoin is of interest to investors due to the benefits that are obtained when making their transactions.

https://www.google.com/amp/s/cointelegraph.com/news/new-data-suggests-bitcoin-and-gold-arent-as-correlated-as-you-think/amp

pokeronlinestatus

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I am not entirely sure if the world is moving towards something better for us or better for richer wealthy people which does really have an impact on gold and crypto. First of all the super wealthy will not care about crypto if there is even a bigger wealth gap, I mean cartoon levels of gap, so that is gone, gold is something they already deal with and they will try to get all of it obviously but after a while there will be none left, all will be in their vaults.

So, that means as long as capitalism continues to hurt the poor people and let them to die and just tells them to keep grinding (like that works, people have 3 jobs to survive, do not tell them to grind) and meanwhile steal money from the poor via legal means we will not really see neither gold nor crypto to go super high after a while, eventually they will stop.

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Quote from: Shasha80 on September 07, 2020, 06:46:38 PM

Lots of articles that show Gold price prediction performance, and like the prediction in the opening post it shows that Gold really is
good as a safe investment. That's why big investors like Warren Buffet finally decided to buy Gold. This has become strong evidence
that Gold is indeed a safe investment. And some of the articles I read show Gold is getting popular in 2020. In my opinion Bitcoin
and land property are another safe investment alternative besides Gold.

You're misreading the situation. Warren Buffet hasn't bought gold. Warren Buffet has a long history of speaking on the record of what he thinks of gold as an investment, and he thinks it's trash. Buffet bought a stake in a gold mining company. He's not interested in the gold they produce, he's interested in the cash flow the mining operations produce because he feels the business is undervalued based on the fundamentals of the business.

Buffet is a value investor. He buys businesses that produce cash flow when the current value of the business is lower than the expected future cash flows the business will generate. Since bitcoin and gold are not a business and do not produce cash flow, Buffet isn't interested in trying to value them and it's the reason he will never own them.

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Quote from: exstasie on September 07, 2020, 02:16:51 PM

Quote from: jaysabi on September 07, 2020, 11:41:45 AM

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.

Agreed, but I do think Bitcoin's monetary policy lends itself to being a store of value. It just can't be done overnight. This volatile price discovery is theoretically just part of the early adopter phase, for the same reason startup penny stocks can be so volatile. Investors are speculating on a rather binary situation: mass adoption (or capturing major market share)......or failure.

If the first scenario plays out, I could see price plateauing an order of magnitude or two higher than now, with volatility gradually declining as the speculative nature of Bitcoin becomes fully priced in over time.

Gold is still considered a rather volatile asset, easily fluctuating 1-5% in a day (it fell 6% in a day last month). I could see BTC eventually occupying a similar store of value niche and degree of volatility to gold, or certainly silver. It might take decades to get there, and maybe I won't live to see it.

In theory, the artificial scarcity should help rather than hurt the price, but there are a couple of caveats to consider. For one, plenty of things are scarce and not valuable, so scarcity itself doesn't equal an ability to be valuable or hold value. Value has to come from somewhere else, like utility. On that front, there are plenty of cryptos that are more useful than Bitcoin (faster, cheaper, etc.). Pretty much the only thing Bitcoin has going for it is first mover advantage and inertia. I don't see Bitcoin ever reaching the kind of mass adoption you're envisioning because on just about every functional utility criteria you can measure it against, there's another crypto that does it better. For these reasons, I never see Bitcoin entering a phase of price stability necessary for it to be a long term store of value.

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Quote from: finaleshot2016 on September 11, 2020, 04:58:35 AM

Gold and other minerals are being consumed and probably, only a few will left that's the reason why the gold prices will become profitable soon.

Though there might be other Gold mining places in existence the problem is those are not being founded and maybe not in the near future so
yeah Gold will grow in value sooner,Like what bitcoin will be
in the next years to come.

Quote

Every day, gold is one of the resources that are being consumed in electronic products, jewelry, and medicines so there's a chance that it'll outplay cryptocurrency's value soon.

The demand of Gold is increasing day by day but i believe Bitcoin also has the same though because this is a Volatile
market it has been played by Whales.

Quote

But I guess this gold is nothing to do with cryptocurrency since they have different features and purposes so it will cause less impact on crypto. Both of them have potential in the market but the only difference, gold is less risky than cryptocurrency.

That is what exactly the fact,why they are both being compared when the truth is they have own market and own believers .

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Quote from: exstasie on September 10, 2020, 01:16:41 PM

Quote from: bits4books on September 10, 2020, 11:47:25 AM

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.

Quote from: bits4books on September 10, 2020, 11:47:25 AM

Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

Have you ever wondered why metals are used for savings? Yes, because it is a PHYSICAL object with which nothing will happen and which is independent of electricity, the Internet and the blockchain.

In this scenario, people will not be able to raise networks to support the use of cryptocurrencies as much as possible. Even if you recall one of the popular games on this topic - Fallout - then there are used as money caps from Cola, and not some electronic money (despite wide usage of electricity). Providing a communication system and the Internet in the case of post apocalypse is the most non-trivial and rather useless task in terms of survival.

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Quote from: CarnagexD on September 10, 2020, 01:32:34 PM

Quote from: exstasie on September 10, 2020, 01:16:41 PM

Quote from: bits4books on September 10, 2020, 11:47:25 AM

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.

Every thing is valued based on demand and supply, silver could have been more valuable than gold if most of people demands a lot of silver than gold, but the only thing is gold is more rare than silver. It is same with bitcoin, the difference is that its core pricing is speculation. If bitcoin would be adopted in the future, the price of it will skyrocket as people will choose to have it for convenient in paying online.

Quote from: exstasie on September 10, 2020, 01:16:41 PM

Quote from: bits4books on September 10, 2020, 11:47:25 AM

Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

The time is running, world is progressing, and you can't predict the future. All that happens now will just be a history.

My position is that gold (and any other precious metal) is valuable in itself, not only because they were chosen long ago as a material for minting coins.
Any precious metal has quite a practical application. You can find it in any kind of electronics. This is a physical object that has many different purposes and hence its usefulness.
BTC (let's be honest) exists OUTSIDE of the real world and it has no other application other than the conventional acceptance of it as the equivalent of the price. That's what I'm talking about.

Axelseseclevz

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Gold is already there since the start and it is already valuable before Cyptocurrency was created. Gold is precious and it's value is really high but despite of this ,it doesn't have impact to crypto currency because they have different features ,use and demand although they have both limited supply that one reason makes it's value increasing.

finaleshot2016

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Gold and other minerals are being consumed and probably, only a few will left that's the reason why the gold prices will become profitable soon.

Every day, gold is one of the resources that are being consumed in electronic products, jewelry, and medicines so there's a chance that it'll outplay cryptocurrency's value soon.

But I guess this gold is nothing to do with cryptocurrency since they have different features and purposes so it will cause less impact on crypto. Both of them have potential in the market but the only difference, gold is less risky than cryptocurrency.

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Quote from: Xxmodded on June 28, 2020, 12:12:41 AM

Gold become best and secure investment for the future without risk lower price, different with bitcoin and altcoin because have bigger risk when bitcoin and altcoin going down, many people like for investing with gold for long term and take much profit with bitcoin as short investment term, by the way bitcoin could up suddenly more than 100% few years only.

As for a long-term investment? Gold is really the best and suitable for it.

You don't need to make it move in the market, you don't need to buy and sell when it is necessary. It is really far different from cryptocurrencies that should be utilized depending on the market. Bitcoin, ETH, DEX and etc, are for a short-term investments where you can make profits once you buy and sell and make transactions in the right time.

I really want to invest in both, so that i can learn the two and it will surely improve my mindset towards investments.c

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Quote from: beerlover on September 08, 2020, 01:01:07 PM

Gold is literally physical bitcoin.

It is not, please dont put that thought in your head.

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I have never seen a single difference between them except for the fact that gold is regulated heavily whereas bitcoin is not regulated at all.

A difference is asset class and you have not seen it already?

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You can send 10 billion dollars worth of bitcoin from any nation to any nation, even from China to USA which is a very very difficult task to do with fiat or gold

I dont think you have the idea of mobility of gold? It has a higher resell value than any other asset, fiat for example or other precious metals.

Quote

because of political reasons but when talking about bitcoin you can do it in 30 minutes and not have any problems because you are anonymous.

Mistaken here, bitcoin does have a lot of consequences that can follow depending upon the regulation. You have to "sell" it somewhere. That means an exchange and exchange means you have to undergo somewhat a KYC for being able to trade.

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Whereas if you want to do the same thing with gold, take from one nation to another, it is a bunch of headache and paper work.

Is doing a KYC on an exchange not a headache and paperwork?

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Aside from that mobility issue, gold and bitcoin are the same things, just a store of value thing where you try to keep your money eroding in value because of inflation.

Beg to differ a lot here. These two are different asset classes. Gold has a higher value of being able to be sold and a store a value than bitcoin unless in future bitcoin becomes a legally acceptable and easily trade-able asset.

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Quote from: exstasie on September 10, 2020, 01:16:41 PM

Quote from: bits4books on September 10, 2020, 11:47:25 AM

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.

Every thing is valued based on demand and supply, silver could have been more valuable than gold if most of people demands a lot of silver than gold, but the only thing is gold is more rare than silver. It is same with bitcoin, the difference is that its core pricing is speculation. If bitcoin would be adopted in the future, the price of it will skyrocket as people will choose to have it for convenient in paying online.

Quote from: exstasie on September 10, 2020, 01:16:41 PM

Quote from: bits4books on September 10, 2020, 11:47:25 AM

Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

The time is running, world is progressing, and you can't predict the future. All that happens now will just be a history.

exstasie

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Quote from: bits4books on September 10, 2020, 11:47:25 AM

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.

Quote from: bits4books on September 10, 2020, 11:47:25 AM

Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

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Quote from: Alert31 on September 09, 2020, 09:50:07 AM

Quote from: sunsilk on June 29, 2020, 02:42:09 PM

There will be a greater rise once this pandemic ends. As you can see, many are losing jobs, there's no more job security on these times. This will make them think about how to retain the value of their savings and will make them find a store of value.

Gold could be the first option of those people that are not aware or scared of bitcoin. There will be an impact because economy's not that good. And as for wise investors, they understand that this time is the best time for most investments to get in such as gold.

I agree with you, people are more familiar in Gold than bitcoin. So, if they invest, probably they will choose gold which is tangible, valuable and already exist long time ago. But i believe wise investors will invest both in gold and bitcoin which is also known as digital gold.

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).
Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Alert31

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Quote from: sunsilk on June 29, 2020, 02:42:09 PM

There will be a greater rise once this pandemic ends. As you can see, many are losing jobs, there's no more job security on these times. This will make them think about how to retain the value of their savings and will make them find a store of value.

Gold could be the first option of those people that are not aware or scared of bitcoin. There will be an impact because economy's not that good. And as for wise investors, they understand that this time is the best time for most investments to get in such as gold.

I agree with you, people are more familiar in Gold than bitcoin. So, if they invest, probably they will choose gold which is tangible, valuable and already exist long time ago. But i believe wise investors will invest both in gold and bitcoin which is also known as digital gold.

Topic: Gold Price Prediction & its impact on cryptocurrencies - page 2. (Read 1056 times)