Bitcoin Breaks $51K, German Analyst Says ‘Looks As if Bitcoin Is Eating Gold’

[DapanasFruit]

There is no question that Bitcoin is going to be gobbling the real gold and this is because more and more institutional funds are coming in and which resulted in part to the waking up of the retail investors anywhere. Soon there can be a convergence of these two factors working so good for Bitcoin. While gold will always remain to be the best and one of the most stable store of value, the interest of many investors and traders are right now on cryptocurrency so many are leaving gold for the opportunity to make hot and fast cash in here. Nothing is surprising in here.

[dansus021]

i just wanna saying bitcoin is almost reach $60K, but gold for me is still choice for investment "and little bit stable than bitcoin"

[Coyster]

I do remember when the price was nearly 40K so many people were saying it's the bubble and they were waiting for the price to fall and give them a change to buy, now it's it's above 50K and still some people don't believe how the price is rising. In less than 12 months ago, bitcoin was less than 4K and just imagine how much profit they could take out if it by investing even a little amount of money.

Of course people will always pass up the opportunity to accumulate BTC when the price is somewhat cheap, that's cause such people do not believe in the BTC network, and they are concerned they would lose funds investing in BTC, the only convincing factor for such individuals is a sporadic appreciation in the price of Bitcoin, something similar to what we're seeing at the moment.

Quite a lot of my friends I personally know and have talked to about Bitcoin, only woke up their interest when the Bull run started, such Investors can be called 'get rich quick investors', it's a poor decision to join the network cause of your FOMO. Having said that, I know gold is prolly more of a safe haven asset that BTC, but tbh, I think with the latest influx of institutional Investors, the sharp plunge Bitcoin experiences could stop, and Bitcoin will gradually start being more of a safe haven asset, and thus people will trust the network more.

[januszzbych]

It`s funny because gold was always worth something and exist physically and bitcoin is nothing   at some point someone will say that it is an example of wasted energy and computing power Sad and then normal people like as lose their invested savings and those who get rich on time will get out of it. Every cryptocurrency simply a domino effect, the question is whether it will be this or next year...

[jenny1130]

Due to quantitative easing and the printing of US dollars, this is asset inflation.
Unless the Fed tries to withdraw large amounts of money from the system to save dollars in the long term, real estate and stock markets will not fall. (But this is extremely unlikely)
Too much money at the top.
If they all buy BTC in U.S. dollars, the money still exists. Someone is selling these bitcoins. Therefore, it will be reused for other value assets such as real estate and stock markets.
In fact, the Fed will again increase its quantitative easing policy in the next market downturn.
Everything will continue to rise until the dollar plummets.

[famososMuertos]

The tendency of traditional analysts to prioritize their analysis in reference to the price of bitcoin based on traditional thoughts always lead them to this type of class comparison, bitcoin is not eating gold to reach ATH it is eating "oranges"...

Now the "dessert" that this user comment us in the OP / You must cite the source even if you bring an idea in your own words.

[jenny1130]

It`s funny because gold was always worth something and exist physically and bitcoin is nothing   at some point someone will say that it is an example of wasted energy and computing power Sad and then normal people like as lose their invested savings and those who get rich on time will get out of it. Every cryptocurrency simply a domino effect, the question is whether it will be this or next year...

Following Tesla, Microstrategy, Bank of New York Mellon, Mastercard, PayPal, Morgan Stanley and many other companies, it seems that the domino journey has just begun.