Gold is Wealth for Giants; they do not need to trade it.
Latest idea circulating in certain Gold bug scenes is that the Gold price is surpressed so China can obtain enough of it to warrant an equal position at the table when, not if; when the Global monetary system is re-established upon another major financial crisis hitting. I certainly hope so
Grabbed a few long(er) term charts from Trading View (awesome site...). I included the posters' credentials for proper attribution and - where appropriate - updated the chart with that nice blue arrow to reflect status as of today. I look forward to revisit this on 31 December 2017
As long as there is more (traditional) currency flowing into cryptocurrency than the other way around, BTC price will continue to climb in the long run. I think 'Blockchain' is quite overhyped looking at what the actual applications could be but we are only at the beginning of figuring this out and a huge investment wave (and trial and error, pets.com style). We already had the VC investment rounds. If or better, when investment by the public in decentralised trust commences in earnest, hold on to your hats.
The best strategy for most with BTC is to buy in with the maximum you feel comfortable investing and then hold until your personal predetermined sell thresholds arrive or something fundamentally changes altering the long term potential of the technology.
I like this strategy as it decreases the risk of selling during a large dump, only to find 'precious' bouncing back with a vengeance shortly thereafter leaving you with less coins.