In times of war, Gold rises. What about Bitcoin? - page 6.

Majestic-milf

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Quote from: philipma1957 on October 16, 2023, 07:19:16 AM

Yeah BTC will be rising soon. Well past 30k this month and around 40k by Jan 1.

Much more likely to do that than another method.

My reasoning is the difficulty has risen again this time by 6.47% which is more than 500 million in gear

added on. Gold is stable for now but you don't know about its future availability.

I.e. are asteroid filled with gold real and mineable:

https://theprint.in/opinion/giant-asteroid-has-gold-worth-700-quintillion-but-it-wont-make-us-richer/260482/

if this is true gold will drop well under 500 usd an oz.

and if it is true silver looks more solid.

Well that's not a far fetched prediction because as of time of writing, Bitcoin price is $27,816.78 so it can happen but let's not get our hopes high yet because it could still drop like it has been doing this past weeks. For the case of gold rising during wartimes? I think it's more stable compared to Bitcoin and acts like insurance for investors. Also, during the time of war, the countries involved will need different items like food, bullets and weapons and since gold is an internationally accepted currency, it's price skyrocket.

Jawhead999

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I don't think gold rise because of the war, it just a coincidence. Assuming the one who bought are from those countries, how they can carry the gold that heavy during war?

I guess it's because the FED interest rate keep increase [1] and bad economy.

Bitcoin actually is better than gold in terms of flexibility, even your country are in chaos, you can still freely to buy and sell Bitcoin as long as the war isn't happen entire the world.

[1] https://tradingeconomics.com/united-states/interest-rate

yudi09

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Quote from: Abiky on October 16, 2023, 06:14:22 AM

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

Debate about gold and bitcoin still occurs in groups supporting these two types of investment assets. Those who support traditional investments such as gold will not trust bitcoin as the best investment asset because the price fluctuates. They do not believe bitcoin to be a hedge asset other than gold.
In contrast, bitcoin supporters would believe bitcoin is the best asset in hedging.

I might be a believer in both with a positive assessment and I would choose both. If we calculate which one is better, I would say Bitcoin is the best even though gold is also a good investment asset.
For me, gold tends to be stable. Meanwhile, bitcoin is the best long-term investment asset.

philipma1957

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Yeah BTC will be rising soon. Well past 30k this month and around 40k by Jan 1.

Much more likely to do that than another method.

My reasoning is the difficulty has risen again this time by 6.47% which is more than 500 million in gear

added on. Gold is stable for now but you don't know about its future availability.

I.e. are asteroid filled with gold real and mineable:

https://theprint.in/opinion/giant-asteroid-has-gold-worth-700-quintillion-but-it-wont-make-us-richer/260482/

if this is true gold will drop well under 500 usd an oz.

and if it is true silver looks more solid.

Vaskiy

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Gold price increase taking place during the time of war is common. In simple, gold is much connected with the traditional market whereas bitcoin is not much dependent. Due to the Israel-Hamas conflict, there is geopolitical tension around the world. This have caused demand for gold and the same had increased the price. Even if there happens rise in the price of bitcoin it won't be bullish for the long run. We had experienced similar scenario during the start of the Russia-Ukraine war.

Even now the people who had known about bitcoin is low compared to gold. This is why people during these kind of situations prioritise gold and the same leads to the rise in the price. Bitcoin being highly volatile doesn't attract the users who always wants to be on the safer side. Today the market had experienced a massive rise, but this is kind of fluctuation and not the perfect growth.

traderethereum

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It's not yet time for bitcoin to increase because the crypto market is unique and different from the stock or commodity market.
There may be many reasons why the price of bitcoin has yet to start increasing, but we will not know why.
Maybe people still trust gold over Bitcoin, but what is clear is that there will be a time for Bitcoin to increase and we have to wait for that time to come.
If the price of bitcoin still hasn't been able to increase, we have to be more patient in waiting for it.

fuguebtc

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Quote from: Abiky on October 16, 2023, 06:14:22 AM

I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

If talking about assets that are considered safe havens or stores of value, I would still consider gold to be the most suitable. Bitcoin is still a highly volatile asset so it cannot be called a safe haven or store of value.

Look at bitcoin's market capitalization, it hasn't even reached $1 trillion, it's only 1/20th of gold's market capitalization. That means it can be manipulated and dumped at any time, how can it be called a safe haven? As bitcoin's popularity increases, that will certainly change, but for now, bitcoin is just a volatile investment.

DanWalker

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Quote from: Abiky on October 16, 2023, 06:14:22 AM

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

It sounds harsh but it's true, bitcoin is still considered one of the more volatile and high-risk assets. It is still not comparable to gold whether we want to accept that as truth or not. But there's nothing wrong with that because gold has been recognized for thousands of years, while many people have never even heard of bitcoin. So I'm not surprised that people are still looking to gold instead of bitcoin these days. And that doesn't mean bitcoin isn't safe or can't be compared to gold, simply because bitcoin needs more time to be recognized and proven. You should not be too hasty.

jrrsparkles

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As of now the price of BTC is $27,750 which is a 1000-dollar hike compared to the last 48 hours if I am not wrong. Comparing gold the price is around 0.5% drop per ounce as per the US market rate so I don't think it affected the gold price in any positive way, to be honest.

In general, people trust gold more than anything so the psychological mindset of people will assume that gold is always the safest but the actual investors know that holding gold over a certain limit is completely useless.

Abiky

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I've seen Gold market prices rising lately as a result of the current Israel-Hamas conflict. However, Bitcoin hasn't experienced any upsurge in price. It's still hovering around the $26k range. Something similar happened during the Russia-Ukraine war.

Is it because investors still don't trust Bitcoin as a store of value? Or is it something else? Please enlighten me. Your input would be greatly appreciated. Thanks.

Topic: In times of war, Gold rises. What about Bitcoin? - page 6. (Read 740 times)