Rising gold value - will it reduce Bitcoin's attractiveness ?

[DeathAngel]

No because Gold won’t pump anywhere near as hard as Bitcoin will this cycle. Gold barely goes up at all, it’s an outdated investment. Bitcoin should treble from the current price in the next 18 months. I don’t think Gold will even go up 50% in that time.

[Cookdata]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

Gold is not that vatile like Bitcoin, that 20% rise people are expecting might take 3 months or more to achieved that which you can make in Bitcoin if the market goes well. I also take a look at Gold chart of 4 years, Gold traded at $1900 average per ounce in 1st of Aug 2020 and it's trading $2500 per ounce today, that means it took people 4 years to make $600 but Bitcoin has done multiple profits in big numbers that gold has not made since it first day traded.

There was a time Gold and some stock were coreleted with Bitcoin and that was because institutional investors were gambling on both but today, the public interest of Bitcoin is far more than that of Gold. There is no way Bitcoin will remain in the shadow for now as many investors seems to be bullish and they are even calling for bull run next year.

[eightdots]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

Gold is not that vatile like Bitcoin, that 20% rise people are expecting might take 3 months or more to achieved that which you can make in Bitcoin if the market goes well. I also take a look at Gold chart of 4 years, Gold traded at $1900 average per ounce in 1st of Aug 2020 and it's trading $2500 per ounce today, that means it took people 4 years to make $600 but Bitcoin has done multiple profits in big numbers that gold has not made since it first day traded.

There was a time Gold and some stock were coreleted with Bitcoin and that was because institutional investors were gambling on both but today, the public interest of Bitcoin is far more than that of Gold. There is no way Bitcoin will remain in the shadow for now as many investors seems to be bullish and they are even calling for bull run next year.

This situation is related to investment preference. Those who prefer traditional investments and do not like to take risks prefer gold, but their profits cannot exceed a certain level. Bitcoin investors can make high profits by waiting for a certain period of time. At the same time, Bitcoin investors can take more risks than traditional investors.

Institutional investors' investment in Bitcoin has made Bitcoin one of the most preferred investment vehicles. It is always good for people to have alternatives when investing, and there are those who make their choices by choosing many investment vehicles.

[_act_]

No because Gold won’t pump anywhere near as hard as Bitcoin will this cycle. Gold barely goes up at all, it’s an outdated investment. Bitcoin should treble from the current price in the next 18 months. I don’t think Gold will even go up 50% in that time.

It is good to diversify. Gold is more of store of value in short term because it is less volatile but the ROI can be very small. There are sometimes I just sell my coins and buy asset that is tokenized in gold. But later when bull market comes, then I can buy bitcoin back. Gold is still a good investment. But if you are looking for a better one that will give higher ROI and if you study it well and know when to buy it, bitcoin is better. Some people buy both and some other assets.

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

I don't think so Bitcoin and Gold have different market so for sure Bitcoin attractiveness will remain despite of Gold price is increasing. Same goes with if Bitcoin price goes up demands for gold will remain.

Don't know why there's need to compare it since we see how big the demands gotten by these two asset. If gold investor would know that there 's another asset like bitcoin exist and they see some great potential from it then provably that they join us here. The same with traditional gold it goes same way since people usually find good opportunity to gain since most of investors doesn't like see their money sleeping in their wallets or bank accounts.

But I'm more into Bitcoin then left something for gold since I guess having we could maximize our investment then something good profit return in future.

I agree that both assets, at least today, are attractive. Today there are 2 issues that will affect these assets, and accordingly their attractiveness:
- Global destabilization. This will drive up demand for gold. I.e. Gold + / Bitcoin.
- International acceptance of cryptocurrencies. This will raise demand (through increased use) for cryptocurrencies, and Bitcoin as an analog to gold in the digital world.
Here is the opposite - Gold - / Bitcoin +
But since the situation in the world is not binary, we are likely to observe a “spillover” of investor interest

[Zaguru12]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

If you’re definitely on about the ROI then we all know the difference is clear and bitcoin will be the best option but that doesn’t go away with the risk it Carries. I don’t think anyone this getting adopted more will actually affect the other because they are two different assets that people view differently, gold is treated more like a stable asset than bitcoin and diversification is done by bitcoin investors towards it.

My reason why i think bitcoin will be sorted after even if gold matches it with ROI today is the availability when it comes to buying, bitcoin is easy to purchase and more importantly privacy that comes with its purchase over gold

[JeffBrad12]

I don't think gold rising in value directly correlate to the decrease of bitcoin's attractiveness if i'm being honest, most of people investin in bitcoin because they like the volatility.
gold is great for investment but it's boring, a 1 month gain of BTC in a bullrun cycle could be achieved by gold in 1 decade, such a stark comparison if we are talking about capital growth.

if any, it'd reduce attractiveness of fiat because the inflation of fiat making gold a lot more attractive for many people.
but affecting bitcoin? nah, the crypto investors will prefer something that can actually make them rich and not just APY of 10%.

[mindrust]

Gold is going higher because it is pricing the rate cuts. The inflation in the US still isn't as low as people wanted but the corporations also can't survive much longer under these high interest rates. In the end the rates will get cut and the inflation will stay high. That's why gold is going up. It means the inflation has won the battle. The dollar lost. It is not surprising though the FED printed trillions since the Covid19 pandemic.

Gold and bitcoin have different use cases. Gold may attract more investors at the moment but it is a temporary thing probably.

[DrBeer]

It looks like we may soon see a correction in the gold price:

“Gold prices are heading lower on Wednesday after hitting a record the day before, with investors awaiting the minutes of the Federal Reserve's July meeting and central bank chief Jerome Powell's speech, hoping to get clues about the possible path of the central bank's rate cuts.
The spot gold price fell 0.2 percent to $2,508.61 a troy ounce, moving away from Tuesday's all-time high of $2,531.60.
“Right now, the main reason for the relative calm in the markets is the wait-and-see attitude of many traders ahead of the Jackson Hole symposium,” said Ricardo Evangelista of ActivTrades.
“Jerome Powell is expected to speak on Friday and many are hoping that his speech will be the starting point for the Fed's rate cut cycle,“ the analyst said.””

[Naufalradit]

I don't think this will have an effect on increasing interest in bitcoin users. because bitcoin is a very promising form of investment. and this can be proven because bitcoin is still surviving in terms of its existence.

[Wexnident]

!

Pretty sure there's none? I mean people can buy both, nothing stopping them from doing so (except for maybe their pride of supremacy over the other). Even when Bitcoin went up god knows how much during each of its past peaks gold didn't really seem like it wouldn't be a good buy. The same thing could be reasoned with Bitcoin here imo. The only reason Bitcoin (or golds) attractiveness would be reduced is if something happened to the assets themselves, or related to the laws around them. I'd say news like Bitcoin being allowed in X country has more sway than the price of gold really..

[Minor Miner]

No because Gold won’t pump anywhere near as hard as Bitcoin will this cycle. Gold barely goes up at all, it’s an outdated investment. Bitcoin should treble from the current price in the next 18 months. I don’t think Gold will even go up 50% in that time.

Investing in gold is considered outdated for retail investors like us because what we seek is high returns despite the risks. But for large investors, organizations or governments, gold is always their preferred choice because what they need is not too volatile and safe.

We are on the bitcoin forum and most of us are retail investors so our choice would be bitcoin regardless of the gold price. So we almost won't see or don't know whether the increase in gold prices will affect bitcoin or not. But I think it will more or less have an impact. The whole world is worried about economic recession so what they are looking for is a safe haven for their assets and that is the reason why gold prices are increasing. They will limit investments in highly volatile and high-risk assets so it cannot be said that it will not affect bitcoin.

[shield132]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

I will stick with Bitcoin because it's easier to trade it and I have the possibility to be my own bank. I can withdraw my coins to my hardware wallet and I will not have to worry about 3rd parties but if I buy Gold virtually, then I won't feel safe. I'll feel safe if I buy real gold but as far as I know, rates are bad when you buy small quantities from typical sellers.

Gold has been traditionally used as a currency and store of value for centuries. It's no-brainer that there will be more money flow in Gold than in Bitcoin but it won't reduce Bitcoin's attractiveness. Bitcoin is a brand new currency with still lots of potential, gold is only a stable one. What makes currency attractive? ROI, so in terms of attractiveness, Bitcoin outshines Gold.

[jaberwock]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

If you’re definitely on about the ROI then we all know the difference is clear and bitcoin will be the best option but that doesn’t go away with the risk it Carries. I don’t think anyone this getting adopted more will actually affect the other because they are two different assets that people view differently, gold is treated more like a stable asset than bitcoin and diversification is done by bitcoin investors towards it.

My reason why i think bitcoin will be sorted after even if gold matches it with ROI today is the availability when it comes to buying, bitcoin is easy to purchase and more importantly privacy that comes with its purchase over gold

When you say all about ROI, I think you are mainly referring to investing but that is also what we are talking about here. If let say it's about the other way or when are only prioritizing gold as an accessory, I think its value can still appreciate over time.

It is still gold despite of being deformed and made for that purpose. I can only see two advantages there in fact, while Bitcoin can't be like that because it doesn't have a physical appearance, though others might still consider it as a decoration to their phone or wallets only to tease or brag someone else that they have lots of money or investment. If about risk, gold also has it because its value can also go down sometimes and then we can lose it or it will be steal to us by the thieves.

[el kaka22]

I really doubt that, people are not investing into crypto because they think that crypto is the alternative to gold when gold isn't doing fine, they are investing into crypto because they do not think that gold is doing that well, and that's the most important part. I believe that we are going to end up with a reasonable approach with the gold vs bitcoin talk.

Gold is boring and there is really nothing wrong with it, we need to consider the fact that this is going to be normal without many issues and this is why we believe that it is going to be a very decent situation. In the end, we can't really consider how things could change, so it is going to be what we can do in the end, we just need to consider how it can grow to be a bigger deal in the end. Bitcoin is far better and gold is not that great and bitcoin could make you rich while gold will not make anything, it's safe but it is not really that profitable so to me it doesn't mean anything at all.

[Mr.sprin]

No because Gold won’t pump anywhere near as hard as Bitcoin will this cycle. Gold barely goes up at all, it’s an outdated investment. Bitcoin should treble from the current price in the next 18 months. I don’t think Gold will even go up 50% in that time.

I also think like that, bitcoin is more guaranteed and promises profits many times the original result, rather than the price. Indeed, gold will continue to rise as time passes, but the increase in the price of gold is not as fast as the increase in the price of bitcoin, it could be 3 to 4 x the price has increased several times, so I think the attraction of bitcoin is stronger than the attraction of gold, because for ordinary people it is more guaranteed to buy gold than invest in bitcoin because they don't understand how bitcoin works, because of limited access to technology, as time goes by it's also a good idea for us to invest accompanied by saving a little of the profits from bitcoin to invest in gold, we can invest anywhere as long as it is from the profits we get from bitcoin.

[Franctoshi]

This topic would have been better off titled, Rising Bitcoin value—"will it reduce Gold attractiveness”, because since the creation of Bitcoin the price has been on a steady increase, And now talking about attractiveness, both individuals/institutional investors are now rushing into Buying Bitcoin, thus even reducing Gold's attractiveness as a hedge against inflation and Bitcoin has now outperformed Gold in terms of utility cases and functions—in the sense that, Bitcoin is money and serves as a medium of exchange, hedge against inflation, Universal asset store of value, Bitcoin is freedom, secured, Decentralized and more liquid than Gold and Just to mention a few.

Gold and Bitcoin are Unique commodities, and they function slightly different, Bitcoin is digital Asset or can be considered a digital Gold by numerous people, whereas Gold is a physical asset, both exist differently, In this regard, I wouldn't see any reason why Gold will reduce attractiveness of Bitcoin because has Gold existed before Bitcoin.

[Renampun]

Bitcoin and gold have their own investors, and the increase or decrease of either one will not affect one, because each investor already has their own preferences, so the increase in the value of gold will not affect the attractiveness of bitcoin directly, but there may be a small effect, but it is not necessary to consider.

[Darker45]

Gold probably remains as a go-to investment by the majority of traditional investors whenever they foresee the economy about to enter rough waters. This option has probably been tested and proven for many decades, even centuries if we consider gold's value. But I don't think this is necessarily detrimental to Bitcoin because the money that goes into gold is probably not the same money that could have gone into Bitcoin. I don't think many of those who consider gold as a safe haven in the face of global turmoil are necessarily torn between Bitcoin and gold. Despite rising adoption, Bitcoin largely remains as a niche market.

However, there are definitely those who diversify. Despite gold's solid track record, investors are investors and the prospect of return is still dominated by Bitcoin. Gold has not yet broken it's inflation-adjusted ATH. Those who have laid their eyes on Bitcoin would hardly shake off its attractiveness.

[Poker Player]

I agree with most of the answers, which are logical in a forum like this, bitcoin forum. Gold appreciation will not reduce the attractiveness of bitcoin.

Now, I do not agree with the opposite thesis, most famously held by Michael Saylor, that bitcoin will come to decapitalize the entire gold market. There is an ancient tradition of gold, and it is also used in jewelry and industry. Investment gold, the kind you buy bars of and keep in a safe, is a minority use, and I think it can be quite decapitalized, but not the rest.