Bitcoin Forum

What do you think?

I think it's unlikely that will happen. There's no real reason for it to do so. So it just becomes a case of will BTC crash to 1/3 its current value or gold pump 3x its value. We can dismiss the latter happening with quite a strong degree of certainty, at least in the shorter term. BTC is unlikely to crash so far because of the cost to mine and the strong support levels around $3000.

I don't think this will happen. No matter the current situation Bitcoin price will not drop that much and gold will not rise that much either
In general I don't like these Bitcoin and gold comparisons because I don't think they have much in common and Bitcoin investors are usualy not gold investors at the same time and not the same rules are valid for gold and cryptocurrencies market.

This is completely unnecessary comparison. Bitcoin and Gold doesn't shave anything in common except that some people are calling Bitcoin the "Virtual Gold".

But I don't think that the price will fall so badly. If we see a Bitcoin under $1500, this will lead to a total panic.

It is possible for bitcoin to cost close to 1000$ but it is not because its similar to gold somehow. Gold and bitcoin are totally different. Its like you would ask if oil can cost as much as coffe just because they are all black.

Really a unnecessary comparison it is. The price of Bitcoin and gold are not in the same stage. The price of Bitcoin far better than gold. Generally we will not able to any find investors who want to invest both of the asset. Investors in Bitcoin and gold are not same minded.

1 ounce of gold is approximately $1,400. No, I don’t think bitcoin will go that low, we may go sub $3,000 per bitcoin for a period but $1,400 per coin is asking for too much imo.

there was that day 1oz of gold almost covered all BTC's.....

and

there will be that day that a car trunk full of gold equals 1BTC and beyond

Time can tell, we should patiently wait for the possible recovery of Bitcoin price. No matter what happens to the market still that will exist for the long term. Before that will happen that a price of Bitcoin will equal to 1oz gold and probably that might happen again. For me, the Bitcoin price is just more than the gold we could not compare them. Someday it'll be back to the higher price more than we expected.

I don't think this will happen, in my opinion i think next year we can see a new all time high for bitcoin. So the best bet is to hold and get more coins and also hold for long time or just until you think you get enough profit when sell.

Holding is not a good option for all the time so we can take risk in bet it will make good success. Few more peoples only take action in this kind of situation because of continuous price drop and raise will make great profit. If you have experience in crypto trading and gambling it will be helpful for future reference. Keep calm is the only option in crypto market because patients make big success.

There will likely be a day when 1 BTC covers all the gold in the world. We're rapidly moving towards a digital society, gold will become useless given its obvious limitations. BTC does not face such limitations and is the future.

It's possible if gold confirms a new bull market. If it hits a new ATH, I'd expect at least $3,000-$4,000+ so if Bitcoin has a sideways year, they might reach parity. There's also a slight possibility that Bitcoin crashes near the 2013 high, so the two could momentarily reach parity around $1,200 or $1,300.

It's a silly comparison anyway because the two are measured in different ways (ounces vs. satoshis). It's pretty arbitrary.

I don't think Bitcoin will drop that much and gold will not rise enough for this to be possible.  A lot of gold is still being mined and if asteroid mining becomes a reality the price of gold will plummet.  Investing in bitcoin has an enormous advantage over gold because of the potential growth upwards that the established metal market lacks.

No way I can see the price of BTC dropping that low. $3,000 is acting as atrong support right now so it would have to drop another 50% now to reach gold parity.

Not happening!

Depends what the market sentiment is in the future. We could very well be bouncing back to $5000 or above in the short term if an IHS pattern is confirmed with sufficient volume above ~$4200 and we may not reach the mid $3000s for some time again, or the pattern could be invalidated and prices could drop into the low $3000s again. Nobody knows in the end- people thought BTC would hold $6000 as a major support point, but we all know how that turned out.

Well everything is possible but I don't think we will reach that point again. Will you not buy bitcoin and take that risk again when the price is just $1K? I'm sure that many investors will take that opportunity to scoop a lot of bitcoins, while casual investors will also jump and try to get at least 1 BTC because everyone had a dream to at least earn one full BTC in their lifetime. So we might see a massive buying when the price hits $1K-$2K, just sayin'.

I'm sure it will. Bitcoin is better than gold there's no reason for its price to be lower. We aren't seeing a huge boom now because we are watching at very short timelines. Gold has a long history and Bitcoin is this novelty that also wants to be a tradable asset, a currency, a store of value, a long range payment system. It will take a lot of time before it establishes a position in all these areas.

Probably you were right, gold is a long time existed valuable thing but the price remained stable if Bitcoin were in the place of gold now probably it's too expensive at this time. So, therefore bitcoin is much better than gold and we can wait for it until the right price will achieve.
Yes, it will reach but we don't know yet when.

Too much of an speculation right now, we didn't even know if there is a bull run or not. I wouldn't expect too much from the market since it is very unpredictable no matter what you do to guess it, it will always stays on the other side where no one could ever know.

Nah, volume would be low and it wouldn't lead to a mass exit. Most panickers have already exited.

I don't think so, that's already a huge recession. I'm not confident with this one but I think that btc hitting the $1400 mark is very hard to believe knowing the fact that 2018 nearly ends and lots of goid news will come this 2019. But if ever happens then still okay for me because I can buy even more and hodl it until the price skyrockets once again :).

Of course it will because unlike gold 🌟 bitcoin already has the numbers in terms of support and its a worldwide pool which can swiftly push demand but currently regulations are the biggest obstacle to its progress. Maybe let's wait and see if it can rebound next year

I would agree to what the majority has said. There's no way that Bitcoin will go that price levels again. We're able at the end of this bear market, other's have predicted that there will be one more bottom around the $2000-$2300 only until we break this trend and perhaps goes into recovery mode. Also if you look at the chart, there seems to be a strong support at $3000, so I can't really see the price going lower than $2000 in the coming months.

what i think is that people should really stop asking weird questions like this, specially when they are pointless on multiple levels! to begin with, comparing bitcoin and gold is just wrong since they have nothing in common so their price has nothing in common either, you might as well compare bitcoin price with a couple of sacks of potato (potato can also be a currency like during war!).
then we have the "guess the price" mistake! there is no point in asking that at this point because anything is possible but that  doesn't mean it will happen. there is no indication for that kind of drop and no reason for it either. not to mention that bitcoin is already over-sold and is in a reverse bubble which needs to be corrected.

Not really,if that happens the price will fall more than that 1oz of gold in real quick time.Still people are comparing bitcoin with gold but they don't have any relation at all to compare other than expensive things for an investment.

That would only happen if the price of gold suddenly spikes to 3 times it's value. This shouldn't be ruled out as the stock market is in an official bear market and trump has started a trade war with china. Gold is looking like a good investment right now (for non-crypto dudes)

I think this is far beyond the expectation that everyone looks forward to, everyone hopes that bitcoin can restore its value and remain the king of all coins because it has very valuable value and can increase its value this year. even though until now the bitcoin price movement has not been able to increase its value, I believe that the price movements will gradually increase even though it takes a long time

Correct, there are limits to how much the price can crash, even if the bears keep trying to push the price to lower values the bulls are going to resist since a price below 3000 dollars will be simply too low for them not to take action and buy all the coins they can out of the market, so the possibility of seeing the price of bitcoin being equal to 1 oz of gold are minimal at best.

Dude I hope it will.

Imagine that? I would buy everything I can. I'm already largely all in but if it drops so low I might even take a loan to invest...
That would be frankly insanely cool.
I'd nearly sell the house xD

What if it drops even more afterward? Remember that we are already at a downhill from an 80% crash. And if what you are cheering to happen really happens, it would be a 93% crash compared to the ATH.

If you didn't buy now, why would you buy after a "simple" 40% crash of the price? Remember that the price can always go down a little bit more.

Its more likely the gold price rises upto BTC price then BTC drops back to gold oz I think.     Theres no special reason to compare 1 oz to 1 BTC.   The most common unit of gold is going to be whatever block they are storing in central banks, I forget which but might be a 1 kilo bar.

The ratio of gold to dollar does have some link apparently, I've heard Jim Rickards describe it and he mentioned the idea behind 10,000 gold would mean the economy is balanced out in some offical link.    Might be that BTC to oil barrels makes more sense if they continue to use energy in 'mining'

it's all nonsensical anyway. parity is just a psychological idea---it doesn't hold any actual significance outside of perception. it's even sillier to compare the price of assets that can't be measured against one another. it's not like we can measure bitcoins in weight.

fiat-denominated volume and market capitalization are probably more useful metrics if we want to compare the size of any two markets.

I think bitcoin will worth 1 kilo of gold not oz. 1 ounce of gold 1287 dollars right now, which means bitcoin needs to drop 65% or so in order to reach those prices, I doubt bitcoin will ever lose that kind of amount ever again, I am pretty confident about bitcoin NEVER reaching those levels in history no matter what.

Moreover, with enough of pressure from the bottom to top and couple of good news coming in a row fueling the bull run constantly could result with 41 thousand dollar in bitcoin price, I know it would be amazing if that happens and we are not "expecting" it right now but would anyone be really shocked and not understand how it all happened ?

I mean we would all understand it and accept it because its bitcoin, sometimes it goes up like hell and 41 thousand dollars is in the reach if you ask me (41 thousand dollar is the 1 kilo gold price).

Thats the kind of logic I like to hear  8)     Zero reason to set it against an ounce, for example the British sovereign was more like a quarter ounce and that was set as the standard unit or base amount of pricing for GBP.   Obviously that coin is now no longer standard, the base unit of UK is tiny.   So its now priced at 254 GBP or over 300 dollars,  that represents the depreciation in UK currency over a century.    

I'm going to dig up this video I mentioned as everyone should watch it and mull over possible future moves on dollar.   Its going to effect us all, these trillions built up in debt will be dispersed somehow (consider how likely government runs trillions in surplus to repay debt) and not likely to common mans advantage.   Japan has been doing QE programs since the 90's so some think it'll just continue forever but I doubt it
Anyway he does do some solid maths behind that 10k estimate which is the surprising bit I agree, that it can be estimated at all


Heres the info and video as mentioned:

https://i.imgur.com/8IvpcZD.png

Long vid original - https://www.youtube.com/watch?v=dL6ivMCw4GA&t=1577s

Shorter vid discussing J.R. - https://youtu.be/QD6ri8nkM1s?t=166