World business: Bitcoin emerge as digital gold

World business: Bitcoin emerge as digital gold

World business – Digital currency bitcoin has become competing with gold and could trade as high as $146,000.However, there is a condition which if it becomes authorize as a safe asset.

World business: Bitcoin in hedge

Nowadays, people pay more interest to cryptocurrency in recent years. This is because investors viewing bitcoin as a hedge against inflation. Besides, it is another way to the devalue dollar.

World business: Bitcoin price

The rush led to bitcoin prices more than tripling in the past six months to a record peak of $34,800 on Jan. 2.

Bitcoin’s competition with gold has already started in our minds. This action can quote the recent $7 billion outflows from gold. Furthermore, there are also more than $3 billion of inflows into the Grayscale Bitcoin Trust.

Consequently, it could mark a new dawn for the volatile digital currency after years as a play for explorers and retail punters.

World business: Bitcoin emerge as digital gold

Bitcoin currency implies a big upside for bitcoin over the long term.

Bitcoin Replacing gold

There is a huge financial investment into gold, a streaming out of gold as another currency implies a big upside for bitcoin over the long term.

Bitcoin is likely to outperform gold as millennials become a more important component of the investment market over time and given their preference for “digital gold” over traditional bullion.

Volatility of bitcoin

The volatility of bitcoin is conditional converging with that of gold in the longer term.

The likelihood of current theoretical mania pushing the bitcoin to between $50,000 and $100,000. Thus, these levels would confirm that there is unsustainable until its volatility levels out.

Thus,  the spectacular bitcoin rally of the past few weeks has caused the bitcoin into more challenging territory.

In fact, it is not only cause positioning backdrop, but also it also can involve in the evaluation.



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Bitcoin emergence as ‘digital gold’ could lift price to $146,000, says JPM



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