BTC up 42% year to date while Gold did good at 28%. Will it carry on?

[Finestream]

This only happen due to the corona virus, let us not expect that bitcoin will continue to outperform its competitors especially with gold which is very stable and has proven a good investment for decades already. BTC is up for 42% this year to date but that wasn't the case before, look, crypto market have struggle in the last two years and bitcoin has not fully recovered yet especially the altcoins market, so this is maybe the chance for the market to rise but for stability in the long run, that's something we can't guarantee.

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[BrewMaster]

gold can never even come close to bitcoin in terms of price growth in long term. there may be times when gold mimics bitcoin but in the end we always see that bitcoin is going up a lot more than anything else you can think of.
it is simply because bitcoin's adoption, unlike everything else including gold, is still pretty tiny and it is offering a unique and well needed utility which makes its adoption a lot bigger hence the rice is equal size to that adoption hence the bigger price rises.

[TalkStar]

Modern age investors are pretty much interested to test new field of investment and bitcoin is in their choice list. Investing in gold is a old trend and people like to invest on this for its price stability but its not the favorite option for them who don't dare to take risks. You will not find any field of investment which is riskfree but you have to compare the the level of risks. Bitcoin is like digital gold now and continiously showing its potentiality.

 You can take a look on this, Bitcoin vs. gold: What should you know before buying?

[so98nn]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

The two can't be compared both in terms of nature and abundance!

Bitcoin:

1. Limited supply but limited users since not everyone use it throughout the world.
2. It holds lot of value based on it's market capitalisation and there is no reserve fund for it, it's value can be drawn at anytime. No regulations!
3. There is no way one can control it's existence, if government started imposing strictest regulations by uniting then it will end up in dust!
4. It's volatile and prices can never be predicted even based on the enough data.



Gold:

1. Limited supply with ever growing number of users.
2. It holds value based on it's demand, limited supply, it's attractive nature to mine more and more. It does have reserve holdings in the banks and could settle at fair price if something goes wrong.
3. It is one of the asset of government from where it gains huge taxes and thus will never impose ban on it.
4. It's not volatile, it keep growing exponentially and will keep rising over the time.


FYI: I love bitcoin a lot but as matter of price comparison I think we must consider above prices. It's always gold which is far more secure.

[Botnake]

I am confident that the growth will continue.

Same here, maybe this is the time where the market will fully recover and we will once again witness a bull run that we are all wanting to see.
Looks like 2017 is still fresh for us, every time we see bitcoin pump like this, we always expect big, and that is a good mentality as it would make us hype as the price continue to pump.

But I don't think we should expect the same price as in 2017.

You are right and maybe you are wrong too because I expect something bigger than 2017.

if we look at the price history of bitcoin https://coinmarketcap.com/currencies/bitcoin/

Last July 2017, the price of bitcoin was just less than $3000 but it reached almost $20,000 by December.
So if we follow that trend, we start at $10,000 this July, sure by December the price will be over $50,000.. but we can be conservative with that prediction, let's just say $30,000 and it's still a new ATH.

[STT]

Arguably the supply of BTC is reduced vs gold which like all commodities sees a wider availability from mining as price justifies higher cost resources around the world.    Also oil price is low at present which especially helps gold with its high energy costs, this all works in favour of gold but also means we will see a greater supply in future then now.    BTC on the other hand we know has a schedule to reduce supply as the halvening event this spring famously underlined the availability of BTC does not ever increase bar short term sell offs when exchanges may see many orders placed to sell.
  So long term BTC has an advantage just so long as the demand is good with a wider population.   Gold has good longer term prospects also from being a longer term established market.    Dollar value has been dropping just recent, my current theory is it may be caught up in a range demonstrated in March from peak to low.   If we do see a rise on dollar it puts pressure on BTC and gold most likely.
  Heres a chart comparing the various macro global assets and the article to go with it that discusses FIAT supply is below

zerohedge.com/markets/goldman-warns-real-concerns-are-emerging-about-dollar-reserve-currency-goes-all-gold

[bearexin]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

What exactly are you looking to improve? The price went up, there’s no need to be in a hurry here. We have seen how long the price has been circling around $9,000 and that was the same thing that happened when it was stuck between $7000 and $8000. All it takes is time, we just have to chill and wait for the right time and the price will go up, it won’t happen in a day.

Before the end of the year it will reach a price that is more than this and some people are speculating about reaching a new high price. As for technological developments that you’re talking about, the only thing that people have talked about is being slow in transactions, but that hasn’t stopped the price from growing in the past and has never stopped new investors.

[exstasie]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way?

I expect them to rise together.

Gold has just made a new ATH after nearly a decade of consolidation. BTC meanwhile has just broken a year-long bear market and structurally looks poised for an impulsive move to new ATHs as well. Both look very bullish in both mid term and long term senses.

Any technological developments needed for BTC to improve on its way to the moon?

No. Fundamentals do not matter in a speculative bubble. It's all about hype and scarcity of available supply.

[AjithBtc]

I am confident that the growth will continue.

Same here, maybe this is the time where the market will fully recover and we will once again witness a bull run that we are all wanting to see.
Looks like 2017 is still fresh for us, every time we see bitcoin pump like this, we always expect big, and that is a good mentality as it would make us hype as the price continue to pump.

But I don't think we should expect the same price as in 2017.

You are right and maybe you are wrong too because I expect something bigger than 2017.

if we look at the price history of bitcoin https://coinmarketcap.com/currencies/bitcoin/

Last July 2017, the price of bitcoin was just less than $3000 but it reached almost $20,000 by December.
So if we follow that trend, we start at $10,000 this July, sure by December the price will be over $50,000.. but we can be conservative with that prediction, let's just say $30,000 and it's still a new ATH.

The year 2017 was a perfect example to know the growth pattern of bitcoin. Compared to the growth of reaching $20000 from $3000 what has happened this year as 42% is good. For the same it isn't fair that the price has started to increase from $10000 and takes the price reach $50000 or $30000 by December 2020.

[peter0425]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind.

Personally i think prices of gold and Bitcoin are tangled together a bit.
Covid hit economies all over the world, all goverments printing money like crazy making money less valuable.
Things separate from money like minerals or Bitcoin are gaining value because of that.

But it is too early to predict since the question is about the end of this year right?

Gold had been the main tools used by investors but now that they have seen the effectivity of Bitcoin?

there will be a chance that this will totally dump Gold in the future.

But it is early to tell.

[shoreno]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind.

Personally i think prices of gold and Bitcoin are tangled together a bit.
Covid hit economies all over the world, all goverments printing money like crazy making money less valuable.
Things separate from money like minerals or Bitcoin are gaining value because of that.

But it is too early to predict since the question is about the end of this year right?

Gold had been the main tools used by investors but now that they have seen the effectivity of Bitcoin?

there will be a chance that this will totally dump Gold in the future.

But it is early to tell.

the question isnt only for this year end but the question can carry on further because both gold and btc are always close to each other  . there are many tools that can be used for trading and i dont think gold is classified as one but gold has its own primary use   . so as btc because btc is a currency  . when it comes to effectivity both gold and btc are effective tools for trades so i dont think people will switch to each others   . there are dumping that can occur but that is only dumping of the price  .

[600watt]

Who knows dood. Bitcoin could keep growing to all-time highs in a month or it could go back down to the $3000 levels in a week.

You've been here since 2013— 3 solid years ahead of me. If there's something you should have known by now, it's that bitcoin is unpredictable as heck, and that speculating what's going to happen in the short term is a total waste of time.

not trying to be impolite, but you do realize that you are criticizing someone who posts about bitcoin speculation in the speculation subforum of a bitcoin forum?

[mk4]

not trying to be impolite, but you do realize that you are criticizing someone who posts about bitcoin speculation in the speculation subforum of a bitcoin forum?

This thread was previously in the Bitcoin Discussion section. I reported this topic and requested a mod/admin to move it to the proper section.

[Febo]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

I believe Bitcoin will do better then gold until end of the year. Both will most likely be positive. Question is what will happen with silver. We might get huge hype about it.

[STT]

Speculating short term is so incredibly profitable if you get it right, year to year the price might only register a difference of 10% perhaps as we go in circles but I can also make that in just one single day like Monday.   Its hard to know when to be involved and when to take profits but I wouldnt say its a waste of time to try.

Silver will follow gold, thats the simplest take to have on what can be quite complicated.   A precious metal thats also industrial has contradictory elements to it but it will follow gold eventually.   People watch various ratios, Silver to gold and also Gold to oil as so much energy is used to mine gold the two have a link for sure.   These ratios are probably indicators of value to some extent, trends, etc.

there will be a chance that this will totally dump Gold in the future.

Gold is a bull market measured in decades, the largest most reliable buyers are central banks who have been net buyers since the start of this century basically.   Also these buyers are holders who dont alter their reserves for decades, its about the most reliable trend we can follow.   Going on that basis and we're well into macro economics at this point, this trend isnt likely to alter; they are deleveraging dollar global reserve risk.
  Gold is a very reliable bull market, its also the case it took from 2011 until now to recover its ATH which makes it far slower then BTC.   BTC is far more growth based, probably is going to be more profitable to speculate on and be involved in but it definitely has more risk to it imo.  So thats fair, generally risk relates to profit potential in any market.

what will happen with silver.

Silver is more volatile, its fair to say its cheap but its for good reasons with unprecedented economic dropoff and volatility.   Tons more risk in speculating on silver.   I just took stock in the worlds largest miner which importantly also has gold so will survive either way.   Hard to guess but Im obliged morally to mention such a solid commentator as this website: pricedingold.com/silver  and they track the ratio in graphs reliably without too much bias or hype.  But yea I agree it'll get hyped, repeating history.

[glowing10]

Both are so different to each other. One is ancient (Gold) and other is current time (Btc). There were so much comparison you can find between the two in the forum that will bitcoin outclass gold, or will bitcoin surpass gold etc. But in today's time both of this are gold for an individual if they had bought some months before only would be levering today the rise which has happened in this short span of time. Stocks markets may not have done that well due to obvious reasons in this pandemic, but both has surpass any other investment made if made in other asset class.

[Silberman]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

Bitcoin is already undervalued if you ask me, while it is important for bitcoin to keep improving at the same time bitcoin is already way better than fiat and gold, the only reason those two forms of money have so much market cap while bitcoin does not is that bitcoin is still relatively new, but as time passes and people realize the great advantages that bitcoin offers over those two forms of money the price of bitcoin will keep increasing over the long term.

[serjent05]

BTC has had great returns based on year to date while Gold doing pretty good and not far behind. BTC is up 12% this quarter. How do you think BTC vs Gold will carry on until the end of the year? BTC to lead all the way? Any technological developments needed for BTC to improve on its way to the moon?

I think bitcoin is highly risk asset compared to gold.

It is obvious that Bitcoin is a riskier asset than gold due to it's high volatility.  Though I agree that we shouldn't compare BTC to gold but we can't help it since many believe that Bitcoin is the digital gold. 

Bitcoin is already undervalued if you ask me, while it is important for bitcoin to keep improving at the same time bitcoin is already way better than fiat and gold, the only reason those two forms of money have so much market cap while bitcoin does not is that bitcoin is still relatively new, but as time passes and people realize the great advantages that bitcoin offers over those two forms of money the price of bitcoin will keep increasing over the long term.

Care to say what makes you think that Bitcoin is undervalued?  Aside from the small  finite supply and being pioneer, what else does bitcoin offer in terms of technological advancement against other cryptocurrency? 


Anyway, as of the price increase if it will carry on, we will never know, since the Bitcoin market is so volatile that it may rally really strong today and dump by tomorrow. 

[adzino]

Why do people keep on comparing bitcoin value with golds value? I mean those two are completely different things, right?
Anyways, back to the question "Will it carry on?" - Who knows? It might, it might not. One thing we know is that the price might go down 42% while the price of Gold dropping this bad is unlikely to happen.
All I am trying to say is the price of Bitcoin cannot be predicted, it is more extremely volatile when compared to the price of gold. No one can answer if it will carry on or not. 

[Fredomago]

Why do people keep on comparing bitcoin value with golds value? I mean those two are completely different things, right?

Most for hyping I guess, but seriously it's two different entities, though both being used for investments.

Anyways, back to the question "Will it carry on?" - Who knows? It might, it might not. One thing we know is that the price might go down 42% while the price of Gold dropping this bad is unlikely to happen.

No one really knows, everything depends from how people around bitcoin will react.

All I am trying to say is the price of Bitcoin cannot be predicted, it is more extremely volatile when compared to the price of gold. No one can answer if it will carry on or not. 

Point is there, bitcoin still have huge volatility that really affects the it's value, mostly being interfere by fears, while
gold have strong ground as being supported by bigger institutions that will keep the drop more lesser.