Bitcoin (BTC) has rebounded above trend and the bulls are currently attempting to scale above the $12,000–$12,500 resistance zone. A breakout of this zone can retest the recent highs of $13,200. If the momentum can break through it 13K Next key resistance level 17200$, where short sellers will be forced to send back BTC 12K TP 10K$.
BITCOIN VS GOLD:
In many ways, gold is the precious metal counterpart to the bitcoin. Like the bitcoin, gold must be obtained through mining. But, while gold is obtained through physical mining, bitcoins must be “mined” virtually through the deciphering of special computer encryptions. Another similarity is that both gold and bitcoins are only available in limited quantities. It is estimated that there is approximately 171,000 metric tons of gold in the world, while the Bitcoin system will only be able to generate and support a maximum of 21,000,000 bitcoins until further technological advances are made. The first reason that the bitcoin will never replace gold is that it still poses a great deal of financial risk. Despite its recent peaks in market value, the bitcoin continues to experience significant price fluctuation that often results in substantial losses. With such instability and uncertainty surrounding the bitcoin, it is unlikely that it will generate the customer base to match, much less surpass, gold as an investment asset. Another reason that the bitcoin is unlikely to replace gold as an investment asset is that the system has yet to achieve full status as a truly "universal" and legitimate form of currency. Many countries in the world still don't have any clear regulation of crypto market. But possible in future some rules and regualtion come in force.
2017 BITCOIN Surges more then 2000% and hit all time high 19,00$ and crush back to early 2018 at price $3200. Consequently, as long as investors believe that gold can generate profits, they will continue to forgo any other potential replacements.Bitcoin as a virtual payment system, we feel that there are many issues it still needs to address in terms of security and sustainability before we can encourage customers to use it or accept it as a method of payment may be next 2-5 Years.
BITCOIN VS GOLD:
In many ways, gold is the precious metal counterpart to the bitcoin. Like the bitcoin, gold must be obtained through mining. But, while gold is obtained through physical mining, bitcoins must be “mined” virtually through the deciphering of special computer encryptions. Another similarity is that both gold and bitcoins are only available in limited quantities. It is estimated that there is approximately 171,000 metric tons of gold in the world, while the Bitcoin system will only be able to generate and support a maximum of 21,000,000 bitcoins until further technological advances are made. The first reason that the bitcoin will never replace gold is that it still poses a great deal of financial risk. Despite its recent peaks in market value, the bitcoin continues to experience significant price fluctuation that often results in substantial losses. With such instability and uncertainty surrounding the bitcoin, it is unlikely that it will generate the customer base to match, much less surpass, gold as an investment asset. Another reason that the bitcoin is unlikely to replace gold as an investment asset is that the system has yet to achieve full status as a truly "universal" and legitimate form of currency. Many countries in the world still don't have any clear regulation of crypto market. But possible in future some rules and regualtion come in force.
2017 BITCOIN Surges more then 2000% and hit all time high 19,00$ and crush back to early 2018 at price $3200. Consequently, as long as investors believe that gold can generate profits, they will continue to forgo any other potential replacements.Bitcoin as a virtual payment system, we feel that there are many issues it still needs to address in terms of security and sustainability before we can encourage customers to use it or accept it as a method of payment may be next 2-5 Years.