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[AudraMiller]

Recently the price of Bitcoin and Ethereum have been reaching all time highs for both of the coins, and various other cryptocurrency have also been booming and reaching their own respective highs. Unfortunately, on the gold side of the market that many also trade in, the price of gold seems to be really struggling, as it is struggling to cross the resistance layer that is set at $1795. This could actually work in the favour of crypto, as more people may choose to invest in crypto rather than gold which seems to be struggling. What are your thoughts on this? Would this be a good thing, or would this weaken the value of the dollar, and inadvertently affect crypto prices as well?

 

[Niftyicon]

I am not surprised that many have started favouring putting their investments on bitcoin than gold since it brings in more profits but at thesame time, I would think that Gold retains its value since some people still invest in it for a diversified portfolio.

 

[achawaskey]

They are two different things, Gold struggling depend on number of factors which has to with, the reserve and availability, bitcoin is different so the prise of Gold will not affect bitcoin.

 

[Rollerkid]

Recently the price of Bitcoin and Ethereum have been reaching all time highs for both of the coins, and various other cryptocurrency have also been booming and reaching their own respective highs. Unfortunately, on the gold side of the market that many also trade in, the price of gold seems to be really struggling, as it is struggling to cross the resistance layer that is set at $1795. This could actually work in the favour of crypto, as more people may choose to invest in crypto rather than gold which seems to be struggling. What are your thoughts on this? Would this be a good thing, or would this weaken the value of the dollar, and inadvertently affect crypto prices as well?

Yeah, I expected the price of gold to be suffering like this because many investors of gold are already considering diverting into crypto currency investment and thus a price crash like this isn't too surprising.

 

[AudraMiller]

Yeah, I expected the price of gold to be suffering like this because many investors of gold are already considering diverting into crypto currency investment and thus a price crash like this isn't too surprising.

I think that the best thing to do would probably be to have investments in both. Then if you have more than one investment a loss made in one can be made up by a favourable market in your other investment. It can be a very good way to try and manage your investment portfolio.

 

[microunit]

If investors want high profits in a shorter term they could be better off with cryptocurrency than gold, though the risks are higher with cryptocurrencies

 

[Yugocean]

Gold price is not struggling it is just that, trading crypto us easy, people can even have them in wallet, it is not same with metals, so there are more investors in crypto than metal.

 

[Rollerkid]

I think that the best thing to do would probably be to have investments in both. Then if you have more than one investment a loss made in one can be made up by a favourable market in your other investment. It can be a very good way to try and manage your investment portfolio.

Yeah, that would have been the better option but then l guess many focused on crypto currency because it was a recent investment scheme they added to their portfolio.

 

[AudraMiller]

Yeah, that would have been the better option but then l guess many focused on crypto currency because it was a recent investment scheme they added to their portfolio.

Very true. People have turned to crypto mainly because they are able to benefit and profit a lot moer from it in a shorter period of time given the market volatility. Also with it not being fully adopted yet, there are times when the price can differ between exchanges and as such they can take advantage of this. Whereas gold is regulated and so this opportunity does not exist.

 

[Rollerkid]

Very true. People have turned to crypto mainly because they are able to benefit and profit a lot moer from it in a shorter period of time given the market volatility. Also with it not being fully adopted yet, there are times when the price can differ between exchanges and as such they can take advantage of this. Whereas gold is regulated and so this opportunity does not exist.

Yes you are right and I even think the gold investors might even add more crypto currencies to their portfolio than the amount of gold. Those same investors are most likely to be trading crypto currency more actively than gold and this can affect future price of gold in my opinion.

 

[Josemendez]

Somehow I still believe that it still boils down to choice . There are still people out there who do not like cryptocurrency investment ,and will patiently stick with gold

 

[BullyMaguire]

Somehow I still believe that it still boils down to choice . There are still people out there who do not like cryptocurrency investment ,and will patiently stick with gold

There's a lot still.. although some people i know invests in gold not for the profit but as a secured assets.. the physical gold i mean they like to buy gold bars for that reason

 

[AudraMiller]

Yes you are right and I even think the gold investors might even add more crypto currencies to their portfolio than the amount of gold. Those same investors are most likely to be trading crypto currency more actively than gold and this can affect future price of gold in my opinion.

Yeah they are likely to add crypto to their investments more so than gold. Also what I think that the most important thing is the market trades as well. Crypto is open 2 hours a day so you can always make use of the market and try and make profits, whereas the market for gold does close.

 

[Virkk]

Recently the price of Bitcoin and Ethereum have been reaching all time highs for both of the coins, and various other cryptocurrency have also been booming and reaching their own respective highs. Unfortunately, on the gold side of the market that many also trade in, the price of gold seems to be really struggling, as it is struggling to cross the resistance layer that is set at $1795. This could actually work in the favour of crypto, as more people may choose to invest in crypto rather than gold which seems to be struggling. What are your thoughts on this? Would this be a good thing, or would this weaken the value of the dollar, and inadvertently affect crypto prices as well?

Most people prefer to invest in Bitcoin and other digital currencies and the worth of gold remains almost at the same level because people are taking interest in digital currencies.

 

[Rollerkid]

Yeah they are likely to add crypto to their investments more so than gold. Also what I think that the most important thing is the market trades as well. Crypto is open 2 hours a day so you can always make use of the market and try and make profits, whereas the market for gold does close.

Yeah, you are right, the market trade is also one crucial factor. The thing is that even though gold will still be very important, it will be used much for industrial purposes but for investment purposes, many people may turn to crypto.

 

[Josemendez]

Yeah, you are right, the market trade is also one crucial factor. The thing is that even though gold will still be very important, it will be used much for industrial purposes but for investment purposes, many people may turn to crypto.

The fact is that gold won't give much return as cryptocurrency will give. Gold is for long term investment and as an asset ,unlike crypto that offers both short time and long time profit

 

[Josemendez]

You will see cryptocurrency is the future of the world. not only the gold but many factors are there which are exploring the importance of cryptocurrency in this covid-19 and pandemic situation cryptocurrency has made its value

Sure. Countries that are still skeptical about cryptocurrency will soon come to realise the importance of cryptocurrency,and will regret it adopting it earlier

 

[Wisdom01]

It won't affect crypto currency and even if it affects it , i think it would be positive and i guess many are no more investing in gold again since they believed that bitcoin price have grown bigger and its more profitable

 

[Josemendez]

It won't affect crypto currency and even if it affects it , i think it would be positive and i guess many are no more investing in gold again since they believed that bitcoin price have grown bigger and its more profitable

True . Bitcoin few days ago broke yet another record of Trillion market capitalization . An indication that many people are adopting it.

 

[Wisdom01]

True . Bitcoin few days ago broke yet another record of Trillion market capitalization . An indication that many people are adopting it.

Truth be told many are really adopting bitcoin , because for the price to keep increasing to a large amount showed a very good sign i think