Bitcoin Forum

Bitcoin crashes after beating gold

http://www.business-standard.com/article/markets/bitcoin-beats-gold-price-at-all-time-high-117010500592_1.html

Bitcoin, a form of digital currency, has seen one of its sharpest rallies and equally sharp falls in the last 24 hours of trading. This digital currency crossed the price of gold and traded at more than $1,200 in early trades on Thursday on China’s Huobi exchange, Beijing, whereas gold was quoted at around $1,177 per ounce on international commodity exchanges.

The Bloomberg data show Bitcoin has crossed its all-time high price of $1,137 notched on November 29, 2013 and reached a high of $1,155 on Thursday afternoon on the last few days of heavy speculation. From there it fell very sharply and is at present (India evening time) quoting at $890 as per the Bitstamp index and Bloomberg was also showing a price of $890. The last $200 fall was in just in one hour. Currently, it is trading around $970.

It is really a matter of time to see the recovery of bitcoin and i did like the article  ;) ,bitcoin will be leading its way in the future without any doubt and if the predictions are to be true it is quite obvious to cross the $2000 barrier by the end of 2017 which will smash the record price of gold i guess as bitcoin was simple the best form of investment in 2016 .

No doubt BTC was the best form of investment considered among the other asset class in 2016. While Dec was considered to the best month for the btc as the price rose 200$+ in a  short span of days and made the investors get more % of return during the year.  :)