Gold Price Prediction & its impact on cryptocurrencies - page 5.

Karartma1

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Quote from: Kakmakr on July 01, 2020, 03:40:42 AM

Most people refer to Bitcoin as "Digital Gold" but not a lot of investors see it that way. Gold is a better store of value, because it has a lot less price volatility. Bitcoin is still seen as a high risk investment by many and a higher Gold price will just draw in more speculators to Gold.

I think once Gold has reached a peak, some investors might take profits and they might diversify into other so-called safe-havens with higher risk. If many of these Gold investors looked at history, they would reconsider Gold as a true safe-haven, because under current federal law, gold bullion can be confiscated by the federal government in times of national crisis. (Governments can change policies as they want and when they want) Tongue

Would you rather have a percentage of your wealth in something that is difficult to carry and that can be easily seized off you (GOLD) or would you prefer something that is invisibile, easy to carry and that you can safely hide in any possible place (Bitcoin)? I have personally chosen Bitcoin over gold and I exchanged my previous gold holdings in BTC and tokenized gold (10%). Wink

songsunling

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https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2020/

The gold market cap is $10 trillion, and global stock market $100 trillion, money supply $100 trillion.
If us dollar collapsed and 10% money was invested to gold, gold price will go to moon. So do bitcoin.

Kakmakr

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Most people refer to Bitcoin as "Digital Gold" but not a lot of investors see it that way. Gold is a better store of value, because it has a lot less price volatility. Bitcoin is still seen as a high risk investment by many and a higher Gold price will just draw in more speculators to Gold.

I think once Gold has reached a peak, some investors might take profits and they might diversify into other so-called safe-havens with higher risk. If many of these Gold investors looked at history, they would reconsider Gold as a true safe-haven, because under current federal law, gold bullion can be confiscated by the federal government in times of national crisis. (Governments can change policies as they want and when they want) Tongue

Tahsin Kabir Kollol

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I think that Gold's positive predictions will certainly have an impact on cryptocurrencies. Although the price of gold does not fluctuate much, people prefer gold to invest their money for safety. If the price of gold continues to rise at a relatively rapid rate and the above predictions come to fruition, it could have a profound effect on cryptocurrency. Especially those who have not acquired much skill and knowledge about cryptocurrency and have suffered losses in cryptocurrency trading and preservation may turn away from the cryptocurrency. However, it will have little effect on those who are well versed in cryptocurrency and trade it efficiently. Therefore, it can be said that if the gold price prediction comes true, it will have an impact on the cryptocurrency.

FanEagle

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The logic is this; there are stablecoins that are connected to dollars, and there are stable currencies that connected to stuff that is connected to dollars which is a long way of doing it. One example is stable currencies connected to gold, gold is usually connected to dollars.

Now, you can use USDT type of currency which would be directly dollars, or you can find coins that are calculated exactly the same way but for gold. It means your currency value increase over time like gold would increase. However bitcoin is more profitable because many people here think that bitcoin will go up higher than gold would and will be more profitable. Of course, there is no proof of this but there is no proof of anything going up or dow, it is a prediction, just like in all financial predictions.

Mauser

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Quote from: Febo on June 30, 2020, 09:27:54 AM

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

World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital.

There is zero % chance that ounce of Gold will not be $10000. It is just a mater of time. USD will lose value. And Gold will keep or even gain value. Most likely ounce of gold can be $10000 already in this decade.

Yeah, gold will rise in the long run for sure. I think in every portfolio there should be some diversification into commodities and crypto currencies. Gold and silver are a good bet. But don't forgot that the gold price is already fairly high at the moment. With all the central banks printing so much money and injecting into the economy, investors don't know where to put all there money. There is no interest on savings and you don't want to put everything into stocks. At the moment we see a high demand for gold.

Febo

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

World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital.

There is zero % chance that ounce of Gold will not be $10000. It is just a mater of time. USD will lose value. And Gold will keep or even gain value. Most likely ounce of gold can be $10000 already in this decade.

webtricks

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Quote from: shoreno on June 30, 2020, 07:43:29 AM

gold back cryptos are related to gold ? if yes then they can be affected majorly . the effect is good because its an increase on gold so why are all worrying .

There have been many crypto projects in past which tried to peg their coin's value to gold but failed. However, Digital Gold or simply GOLD is a project which stood out and successfully created an ecosystem of gold pegged cryptocurrency which is highly liquid and can be used on ETH blockchain for making instant payments or for simply storing value in gold.

GOLD team is providing high liquidity on exchanges so the value of GOLD token is always equal to market price of 1g gold. Hence, it is surely related to gold and you are correct in saying that anticipated increase in prices of gold in upcoming days/months will positively impact the price of GOLD token.

More about GOLD project: https://gold.storage/en/home

ethereumhunter

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With a limit of materials, gold and silver can increase higher. If you want to buy gold right now, you should buy it before the price increase, and you will be too late.

As a stable investment, gold will become something that people will want to buy because they want a safe investment that will not too volatile from time to time.

shoreno

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Quote from: Negotiation on June 29, 2020, 11:11:37 PM

The price of gold will break $ 321.54 grams and it will not affect crypto backed-gold currencies like the gold stable currency because bitcoin investments are more profitable than gold.

i kept on reading it again and again but i dont find the connection of what you have said . whats the conection of btc being profitable to the gold ? or you mean to say there is more demand on btc because people think its profitable and that counters the effect of gold to btc if ever there is .

gold back cryptos are related to gold ? if yes then they can be affected majorly . the effect is good because its an increase on gold so why are all worrying .

TheGreatPython

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It’s only going to affect the gold stablecoin you have mentioned, and has nothing to do with others such as Bitcoin, Ethereum, XRP, etc. These ones are not stablecoins, they are volatile and they are not backed by any of those the community that is backing them. Gold stablecoin will be affected by any move the real gold makes because it’s backed by that. And if the price of gold should increase, then we should get ready to see assets that are backed by it as they increase in worth as well. I don’t invest in gold, so I don’t really follow up with what’s happening with it, I don’t check any updates about it.

But, as gold and bitcoin belongs to same category (alternate instruments against stocks and bonds) for institutional investors, we can assume bitcoin will follow the "trend" of gold. There were times when bitcoin was struggling to surpass one ounce price of gold after beating bitcoiners do never consider gold as a reference, it seems.

davis196

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The gold price will go up,but 10K USD per troy ounce is a crazy prediction.During the 2007-2011 global financial crisis,the gold prices never reached 10K USD,even though gold is considered to be a safe heaven.
I'm seeing bullish predictions about the gold price every day and none of them happened so far.
All the gold investors are always so hyped up about gold.It's kinda annoying. Grin

Some analyst at Bankbazzar is expecting gold price to reach 5K USD per ounce(28 grams) in 2020.Half of the year is gone.Let's see will this prediction happen until the end of 2020.Highly unlikely,if you ask me. Grin

Negotiation

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The price of gold will break $ 321.54 grams and it will not affect crypto backed-gold currencies like the gold stable currency because bitcoin investments are more profitable than gold. Its demand is higher than gold Everyone's opinion is different because the gold market is pumped by different companies It will depend on us for long term investment.

StonksStonksStonks

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the price of gold started mooning after 2009 because people started learning about the history of money and the end of the gold standard. When Quantitative Easing started in 2009 people googled it and found some gold bug youtube videos, or articles on gold bug websites. They learned about the history of money and how paper currency is trash.

Pirior to the internet people had no way of learning much about monetary policy and the history of gold/fiat/money.(unless they wanted to spend days in the library reading books, which is really uncommon). So as the internet and espcailly high speed internet became popular it became easier for people to learn about this stuff. And thus gold buying by the masses begun.

Kemarit

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Quote from: vaultman on June 29, 2020, 05:03:21 PM

In my opinion, gold has value due to its chemical properties. That is, if a chemical element is found that is better than gold, then gold will depreciate. Sooner or later this must happen

What do you mean? I mean gold has existed for thousands of years and within that time frame, no one has discovered, of course there is Platinum and Rhodium, more expensive but it can't really replace Gold up to this point.

Gold has been steadily climbing in the last decade or so, but just like any other investments out there, it also went into a bubble. However, it still has the potential to grow in the future, but it will take some time to see a good returns, $ 10,000 / troy ounce? I don't know how long will it take to reach that levels.

vaultman

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In my opinion, gold has value due to its chemical properties. That is, if a chemical element is found that is better than gold, then gold will depreciate. Sooner or later this must happen

sunsilk

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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.

el kaka22

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Is he joking? I mean gold is something that gains value over time and I agree that in 20 years gold will become a lot more, but seriously? That much? Gold doesn't increase that much at all. If anything even bitcoin may not gain that much value.

However I wouldn't want to scare off any gold investors, gold is something very valuable and scarce and I have always considered gold to be the original bitcoin, it was used for transactions for a long period as well as gold coins too but eventually became very expensive to use as a momentary thing and stopped using gold and turned into silver and other stuff over time. If you can buy gold, you should definitely buy gold, it would at least prevent you from losing the worth of your assets in the long run when fiat is losing value at the same time.

yhiaali3

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We have noticed in the recent period a significant rise in the price of gold globally as a result of the Corona virus and people's fear of the collapse of the economy, this is normal when the economy of a country collapses its currency becomes worthless and therefore people resort to buying gold to preserve the value of the currencies they have, this leads to a rise The demand for gold has increased dramatically and its price has increased dramatically. This is what happened. I think the price of gold will increase more and more. Of course, the price of cryptocurrencies associated with gold will increase because people will also buy these cryptocurrencies like GOLD stable coin.

Hisdows18

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The increase in gold prices is a reflection of the assumed inflation and therefore a measure of the real value of the dollar.
The price of the dollar is declining and therefore the value of gold is rising.
I expect to break the 2000 $ or $ 2,500 in worst case but I may assume that we will take some time to get that value.
The pandemic continues to have a major impact and strain the economy.

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