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Gold is gaining popularity among cryptocurrencies investors

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January 29, 2018 | 

630 Views | 

Joanna Newman | 

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When markets are unsafe, people always tend to turn their attention to assets that don’t have to prove themselves anymore, and gold is one of these assets. Recently, when some cryptocurrencies’ value such as Bitcoin’s is plummeting, gold become stronger, as more and more investors decide to acquire this 4000 years old universal valor.

Are cryptocurrencies actually losing strength?


Since December, things aren’t doing very well for Bitcoin, as the trend seems to go downward and it is just the same for the others cryptocurrencies. The prices for these cryptocurrency are very volatile, and under the actual conditions.

There’s no way to deduce with certainty if its price will either go up or down in the short term.

Investors will seek for their safety before all, and some people want to stay away from such an unpredictable asset.

Indeed, you can’t take a look away from the markets even a single minute because it can go in any direction without you knowing.

Due to all of these conditions, some investors like to invest in an asset with a long term perspective and are turning their attention to other values available on the market. Several times in the past, when things got rough on the markets, it often resulted in a growing interest toward precious metal such as gold. For example, it happened in the 2000s when internet startups were in the middle of a financial bubble, and it seems to happen again right now.

A modern era gold rush


In almost every country in the world, gold has been considered as a valuable asset, and it likely won’t lose its prestige any sooner. In opposite to various assets, its prices has always remained stable, and is even slowly increasing over time. It’s advised to anyone who wants to invest his or her money on the long term to buy gold. For example, the gold price following the internet startup bubble in 2000 has been nearly eightfold its initial value.

Over the last four months, gold priced gained 7.5% of its initial value before getting relatively stable. All of this is “thanks” to the people losing trust in Bitcoins and other cryptocurrencies.

They’re rushing to gold because they need some reinsurance that their money will be safe.

The gold price rises: what to expect for Bitcoin?


As the Bitcoin price dropped down, gold price rose, and we can’t help but notice a pattern, on which people are leaving a sinking boat, and we clearly see where they’re going. It seems like people are leaving the cryptocurrency to buy a safer asset, and gold is one of the safest value around. However, a drop of Bitcoin price will lead to its stability in a near future, and it might be possible to finally use it as a daily currency.

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