Will the price go to 1 BTC = 1 oz gold again?

[WinslowIII]

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.

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

[NavI_027]

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 .

[MufasaR]

What do you think?

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

[Kemarit]

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.

[pooya87]

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.

[mersal]

What do you think?

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.

[Crypdon]

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)

[radjie]

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

[South Park]

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.

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.

[mOgliE]

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

[TryNinja]

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.

[STT]

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'

[figmentofmyass]

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.

[wuvdoll]

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).

[STT]

Thats the kind of logic I like to hear       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.    

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.

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:



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

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