In fact many have called bitcoin digital gold in the past. Bitcoin is a blockchain based cryptocurrency that shares some properties with its gold counterpart. Bitcoin bursts onto the scene.
Some cryptocurrency enthusiasts have promoted bitcoin as a digital gold since it burst on the scene in 2009 but now a variety of digital currencies that claim to be. Updated nov 24 2019. It reached a high of 1557 on september 2 very close to the current price of 1497.
Gold opened 2019 at 1282 84. Eventually it reached a high of 13 831 on june 26 before decreasing to the current price of 8000. Bitcoin opened 2019 at 3797 94.
However there are also many who view it as yet another asset that governments are free to manipulate. At this time a lot of people thinks about gold as a safe investment something with a universal value around the world. In that regard bitcoin is similar to gold and the two are often compared against each other as ameduri himself confirmed.
However it seems that he found his perfect rival and that has questioned his potential. Gold meanwhile has always been known as the perfect haven for investors. In fact bitcoin is known to many as digital gold.
The debate between gold and bitcoin is by no means recent but it remains in force. Bitcoin looks like a consolidating bull market while gold is flirting with six year highs the cryptocurrency is estimated to end its consolidation period higher but its price action in 2019 has been nothing spectacular. Gold bi senior commodity strategist mike mcglone said in the report published in the beginning of the month.
On an annual range basis bitcoin is meh vs.
Bitcoin vs gold 2019. The bitcoin gold narrative is an easy crutch because bitcoin shares many characteristics with gold. It s scarce portable fungible divisible doesn t degrade over time and has value even though. Bitcoin vs gold in 2019 the price of gold as of right now we re writing this article on march 22nd 2019 is 1 311 ounce. For the last five years it has been circulating between 1379 and 1060 the highest and lowest point respectively.
This means the price of bitcoin should react like the price of gold would if half the mines in the world were closed every four years and that after 12 years gold output would slump nearly 90. 206 billion bitcoin vs 12 7 trillion gold given the respective prices of both bitcoin and gold the total market cap of circulating supply for each asset comes in at 207 billion for bitcoin and 12 7 trillion for gold. That makes bitcoin over 60 times smaller than gold or 1 62 of gold s current market cap.
That makes bitcoin over 60 times smaller than gold or 1 62 of gold s current market cap. 206 billion bitcoin vs 12 7 trillion gold given the respective prices of both bitcoin and gold the total market cap of circulating supply for each asset comes in at 207 billion for bitcoin and 12 7 trillion for gold. This means the price of bitcoin should react like the price of gold would if half the mines in the world were closed every four years and that after 12 years gold output would slump nearly 90.
For the last five years it has been circulating between 1379 and 1060 the highest and lowest point respectively. Bitcoin vs gold in 2019 the price of gold as of right now we re writing this article on march 22nd 2019 is 1 311 ounce. It s scarce portable fungible divisible doesn t degrade over time and has value even though.
The bitcoin gold narrative is an easy crutch because bitcoin shares many characteristics with gold.
