Crypto Rally’s End Inevitable? Would Gold be Taking Back Its Crown From Bitcoin?

Bitcoin Cryptocurrency News

It might be unsettling for most of crypto enthusiasts to understand that soon or later crypto rally will end. In fact it is going to crash rather than ending the rally. Resultantly, the soared values of all cryptocurrencies, irrespective of whether it is Bitcoin, Ethereum, etc., will decline immensely. The reason being the increased sell-offs which is as usual in any other financial market or sector.

However, if this is going to happen, then the biggest question is what would happen to Bitcoin and Ethereum? Where else people would be spending their money to seek for another hedge against odds?

The answer to these questions is simple and straightforward. People would revert back to old and traditional ways such as metal trading and precious minerals trading etc.

However it is not inevitable per se however a businessman always consider the future risks. Especially those businessmen who are still quite newer to crypto would definitely go back old ways. Because when crypto was not there, they were fond of and used to trade in precious metals and minerals. This was the place where they had learnt how to trade and how to keep their balances growing.

Same thing had happened earlier when the world was faced with the financial crisis of 2008/09. At that time economies were destroyed, banks failed and currencies lost their values. However, the businessmen turned their interest towards metal trading and survived the crisis.

So potentially the most tradable stock would be comprised over Gold whose trade will be boosted if something bad occurs to crypto industry. Gold trading is existing since several thousands of years. It is by far the oldest trading asset along with commodities, silver etc.

But of course this is one way of thinking but majority of members of crypto community think otherwise. They had argued that Bitcoin will overcome Gold and currently this argument is found 100% accurate. World leading institutions along with prominent individual investors are all claiming that they found refuge in cryptocurrencies. Particularly, they can save their money and in fact earn handsome profits on them as well. Crypto is providing them a hedge against odds, circumstances and inflation, they claimed.

In fact Bitcoin value had soared for almost 900% since 2020 and this is enabled others to come and join the bandwagon. Currently it is nearing about US$ 60,000 against each Bitcoin and depending on its past performance, further increase is anticipated. But as was stated earlier that prominent individual investors are supporting Bitcoin, therefore, there seems no change forthcoming in crypto industry.

Furthermore, these investors are bullish about Bitcoin and suggesting that very soon Bitcoin will be sold for US$ 100 K. To some it is worth US$ 150 K and for few, it will be sold for millions in 2023.

 

Leave a Reply

Your email address will not be published.