Gold Price Prediction & its impact on cryptocurrencies

[sabbir2world]

Gold vs Crypto (Such as Bitcoin) = Crypto has a limited supply but gold is ancient and not that limited like Bitcoins. So do the math. 

[Sanugarid]

Gold is literally physical bitcoin.

Nope it's not, yes they are both highly valuable but bitcoin is only for a moment, one day it is at $10K tomorrow it will be at $9K. People often compare these two assets because they are pricy, but once bitcoin falls down to zero, though it is unlikely to happen, no one will ever speak about it again/

I have never seen a single difference between them except for the fact that gold is regulated heavily whereas bitcoin is not regulated at all. You can send 10 billion dollars worth of bitcoin from any nation to any nation, even from China to USA which is a very very difficult task to do with fiat or gold because of political reasons but when talking about bitcoin you can do it in 30 minutes and not have any problems because you are anonymous.

LOL you compare the aspect of gold being a tangible asset to bitcoin, when I wanna send 10 billion dollars I won't send it as gold bars lmao, I'll sell it in a bank then make a transfer to whom I wanna make transaction with, you're taking it very literally. Though transferring a huge amount of money would take several days to complete, if you're a highly classified person/personality that would just take a serious day to be transferred.

Whereas if you want to do the same thing with gold, take from one nation to another, it is a bunch of headache and paper work. Aside from that mobility issue, gold and bitcoin are the same things, just a store of value thing where you try to keep your money eroding in value because of inflation.

You are showing a single advantage of bitcoin to gold's weakness. This is absurd.

[Kasabus]

Lots of articles that show Gold price prediction performance, and like the prediction in the opening post it shows that Gold really is
good as a safe investment. That's why big investors like Warren Buffet finally decided to buy Gold. This has become strong evidence
that Gold is indeed a safe investment. And some of the articles I read show Gold is getting popular  in 2020. In my opinion Bitcoin
and land property are another safe investment alternative besides Gold.

Gold is indeed a safe investment ever since from ancient times and even up to the present seeing its price is rising slowly. But bitcoin could be a good investment too particularly if its price suddenly goes to the moon and makes all its investors instantly rich. They are both safe investments for me but the risk for bitcoin and other cryptos is definitely higher compared to gold.

[Stedsm]

Tbh, anything that gets too much higher in demand due to the fact that it's being seen as a safe haven asset to invest into, but has a very limited supply to serve against that demand, then the value of that thing will definitely rise. Say for example, think that you and me are the very first people who took birth on the earth. We learnt values. You've got food because you're, let's say, a farmer and I've got clothes as I'm (let's assume) a tailor. You live at a place where there's too much winter but you have some reserved food for yourself that can save you from that winter (but not forever). On the other hand, I live in an area where everything remains too hot (summer tbh) and I can't manage any cold food that could cool down my stomach but you have it. What will we do? Trade. You trade your food for the clothes I have and I'll give you clothes for your food. But you have the power here as you can ask for more because you've got something that needs to be consumed daily while a pair of clothes are enough for you to survive, but you'll still take more because either your greed or need will make you do that and I'll even give more clothes to you because I know that food is all I need to survive (we can't eat clothes eh!). But TBVH, I don't think Gold can ever reach $10k (even Jeff Bezos will be worth $1 trillion before Gold reaches $5k).

[MCobian]

I don't think the Gold price prediction will have any effect on cryptocurrency. Because both are feasible as investment options this year.
Since the beginning of the year I have even invested in Gold, because Gold has indeed been a safe investment for a long time. So from
that in my opinion it is wrong if someone compares between Gold and Bitcoin, don't compare the two, because they are two different things.
But both are very worth buying this year, for Bitcoin it is a little riskier compared to Gold. But if we analyze deeper and see Bitcoin fundamentals
are getting stronger. There is no reason not to invest in Bitcoin.

[bryant.coleman]

Gold is one of the few assets, which has given consistently good returns for the past 100 years or so.

Really, are you certain about that?  Have you taken inflation into consideration?  And anyway, I'd say that gold has been a lousy investment since 2011 when it peaked and then started its long, slow decline.

That's cherry picking though. I could also cherry pick and say gold rose 650% between 2001 and 2011. Those are very impressive returns for a decades time, don't you think?

Exactly. I would say that the dip during 2012-14 was a small correction after the impressive rise in 2001-11. But we need to admit that gold is also a very volatile asset. Its valuation can go up or down by as much as 50% in a single year. Even this year, the gold price have gone from $1,500 per oz to around $2,100 per oz, before slightly correcting to $1,928 per oz. But all of us can agree that gold will give very good returns in the long term.

[assa1979]

I mean, there is always a chance for such thing to happen in this unpredictable world.
However, my inner analytical sense tells me that gold is a thing that could hit $1k per gram in 5-7 years and history clearly shows us that gold's growth is stable, but the pace is not as fast as crypto's for instance

[int03h]

Sure, when there's too much money, people buy finite assets like real estate, gold, Bitcoin, and blue-chip stocks.
Can anyone know how much extra money they'll print next year?
Hoarding finite assets is a smart investment, good anti-inflation, and stable value increase.

[FlightyPouch]

Lots of articles that show Gold price prediction performance, and like the prediction in the opening post it shows that Gold really is
good as a safe investment. That's why big investors like Warren Buffet finally decided to buy Gold. This has become strong evidence
that Gold is indeed a safe investment. And some of the articles I read show Gold is getting popular  in 2020. In my opinion Bitcoin
and land property are another safe investment alternative besides Gold.

Gold is indeed a safe investment ever since from ancient times and even up to the present seeing its price is rising slowly. But bitcoin could be a good investment too particularly if its price suddenly goes to the moon and makes all its investors instantly rich. They are both safe investments for me but the risk for bitcoin and other cryptos is definitely higher compared to gold.

Well it has its ups and downs so we can't really say that it is a safe investment. There are a lot of factors that could affect gold, even the pandemic affected its price. Bitcoin may dump at that time but we never know. During the pandemic btc went up to $10K, dropped to almost $4K then stabilize and went up to $11K then went back to now $10K. Bitcoin is already a good investment, it is volatile, yeah but within these changes it gave me some good profits, gold can't do that.

[mu_enrico]

The gold price will continue to rise as long as women like it, and people use it as a symbol for love, marriage, and wealth. Regarding the impact on crypto, of course there is, because some people (a very small group) consider both as substitute goods. The question is whether it will be significant or not. IMO it won't be significant.

[Salauddin1994]

Inflation lowers a country's economy a lot the gold market usually depends on the country's economy when the economy goes down the gold market goes down a lot. But it has no effect on crypto is decentralized and has nothing to do with economics Bitcoin investment is better than gold. Bitcoin is not under the control of the government. As the gold market applies to Fiat currency the government now pays tax subsidies. The safest investment in Bitcoin is to make a profit when the price rises.

[Ridwan Fauzi]

There is no one who don't know to gold, although the price always increasing there will be many people who still buying it, that's is the power of gold. Yeah, I just hope it will continue until whenever. So as bitcoin will be considered as a digital gold by most people. I know a few months ago gold has touch its new all time high and also bitcoin touch $12.000 for the second time after slumped down form its all time high. And I just guessing if the investor gold have invested as well in bitcoin.

[Alert31]

There will be a greater rise once this pandemic ends. As you can see, many are losing jobs, there's no more job security on these times. This will make them think about how to retain the value of their savings and will make them find a store of value.

Gold could be the first option of those people that are not aware or scared of bitcoin. There will be an impact because economy's not that good. And as for wise investors, they understand that this time is the best time for most investments to get in such as gold.

I agree with you, people are more familiar in Gold than bitcoin. So, if they invest, probably they will choose gold which is tangible, valuable  and already exist long time ago. But i believe wise investors will invest both in gold and bitcoin which is also known as digital gold.

[bits4books]

There will be a greater rise once this pandemic ends. As you can see, many are losing jobs, there's no more job security on these times. This will make them think about how to retain the value of their savings and will make them find a store of value.

Gold could be the first option of those people that are not aware or scared of bitcoin. There will be an impact because economy's not that good. And as for wise investors, they understand that this time is the best time for most investments to get in such as gold.

I agree with you, people are more familiar in Gold than bitcoin. So, if they invest, probably they will choose gold which is tangible, valuable  and already exist long time ago. But i believe wise investors will invest both in gold and bitcoin which is also known as digital gold.

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).
Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

[exstasie]

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.

Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

[CarnagexD]

I still think that classic investors will not touch cryptocurrencies if they choose between them and gold simply because gold is valuable in itself, while the price of btc depends only on the demand for it and its popularity (and speculation).

That's where most of gold's value is derived from too. Only a very small part of gold's market (~10%) can be attributed to actual industrial or medical uses, what you might consider inelastic demand. It's mostly used for value storage, jewelry (which largely falls under value storage), and speculation.

Every thing is valued based on demand and supply, silver could have been more valuable than gold if most of people demands a lot of silver than gold, but the only thing is gold is more rare than silver. It is same with bitcoin, the difference is that its core pricing is speculation. If bitcoin would be adopted in the future, the price of it will skyrocket as people will choose to have it for convenient in  paying online.

Even if you imagine an apocalyptic version of the development of history, you will be able to pay with gold at least somehow but not with btc (unfortunately)

Maybe right now, but 2-3 decades from now? I'm not sure. Before long, apocalyptic versions of history will include peer-to-peer mesh networks and other technologies that will sustain Bitcoin.

The time is running, world is progressing, and you can't predict the future. All that happens now will just be a history.

[TheUltraElite]

Gold is literally physical bitcoin.

It is not, please dont put that thought in your head.

I have never seen a single difference between them except for the fact that gold is regulated heavily whereas bitcoin is not regulated at all.

A difference is asset class and you have not seen it already?

You can send 10 billion dollars worth of bitcoin from any nation to any nation, even from China to USA which is a very very difficult task to do with fiat or gold

I dont think you have the idea of mobility of gold? It has a higher resell value than any other asset, fiat for example or other precious metals.

because of political reasons but when talking about bitcoin you can do it in 30 minutes and not have any problems because you are anonymous.

Mistaken here, bitcoin does have a lot of consequences that can follow depending upon the regulation. You have to "sell" it somewhere. That means an exchange and exchange means you have to undergo somewhat a KYC for being able to trade.

Whereas if you want to do the same thing with gold, take from one nation to another, it is a bunch of headache and paper work.

Is doing a KYC on an exchange not a headache and paperwork?

Aside from that mobility issue, gold and bitcoin are the same things, just a store of value thing where you try to keep your money eroding in value because of inflation.

Beg to differ a lot here. These two are different asset classes. Gold has a higher value of being able to be sold and a store a value than bitcoin unless in future bitcoin becomes a legally acceptable and easily trade-able asset.

[AniviaBtc]

Gold become best and secure investment for the future without risk lower price, different with bitcoin and altcoin because have bigger risk when bitcoin and altcoin going down, many people like for investing with gold for long term and take much profit with bitcoin as short investment term, by the way bitcoin could up suddenly more than 100% few years only.

As for a long-term investment? Gold is really the best and suitable for it.

You don't need to make it move in the market, you don't need to buy and sell when it is necessary. It is really far different from cryptocurrencies that should be utilized depending on the market. Bitcoin, ETH, DEX and etc, are for a short-term investments where you can make profits once you buy and sell and make transactions in the right time.

I really want to invest in both, so that i can learn the two and it will surely improve my mindset towards investments.c 

[finaleshot2016]

Gold and other minerals are being consumed and probably, only a few will left that's the reason why the gold prices will become profitable soon.

Every day, gold is one of the resources that are being consumed in electronic products, jewelry, and medicines so there's a chance that it'll outplay cryptocurrency's value soon.

But I guess this gold is nothing to do with cryptocurrency since they have different features and purposes so it will cause less impact on crypto. Both of them have potential in the market but the only difference, gold is less risky than cryptocurrency.

[Axelseseclevz]

Gold is already there since the start and it is already valuable before Cyptocurrency was created. Gold is precious and it's value is really high but despite of this ,it doesn't have impact to crypto currency because they have different features ,use and demand although they have both limited supply that one reason makes it's value increasing.