Bitcoin Vs Gold

hi my dear friends,
as we all are getting excited for Bitcoin ETF which is likely to takes place on august mid, Bitcoin is getting famous as a payment method and apart from it as a value investors among investors as the currency is currently trading at a gain of 5% ($7700 approx) and probably will hit $8k in few hours as it crossed the resistance of $7.5K.

even gold investors have move their eyes on the mother of crypto i.e bitcoin as a better investment option and the same can be seen in recent downward in the price of bullion.

The price of gold has been on the decline for the past three months, during which time it’s lost more than 10% of its value to about “$1,228.70 per ounce today for Comex August. Bitcoin, on the other hand, has been in rally mode, in recent days proving once again it can rally hundreds of points in a matter of minutes as it surpassed the $7,000 level. BTC just surpassed the $7,500 level.

Gabor Gurbacs, who according to his LinkedIn profile is the director of digital assets strategy at VanEck/MVIS, believes that bitcoin is going to be the beneficiary of investors fleeing gold as a store of value. He told CNBC: “I would say as a message to investors that bitcoin is a safe haven asset or digital gold, one that trades like a tech stock.”

Gurbacs offered a forecast that takes a different tack from the usual price predictions. He looks at the digital asset in terms of capital flows, and he’s expecting bitcoin’s value to balloon in size. He pointed to the size of the gold market, which is comprised of $7 trillion outstanding in assets. Gurbacs suggests between 5%-10% of that could be directed into bitcoin, adding “investment products are necessary to get there.”

Bitcoin even slightly gain its market capitalization at $132.20 B i.e. around 45-45% of total market which is however comparatively low with its December 2017 benchmark but it can definitely touch even cross its high once the ETF is announced.

so, what are u waiting for my friends just get off your funds from mcx (commodity market) and get it invest in bitcoin and became the part of the rally coming soon.