Is Increase demand in Gold mean End to BTC, STEEM, EOS et al?

kenhudoy (61)in #investment • 7 years ago (edited)

Recently, many folks who hitherto were saving their investments and earnings acquired from cryptocurrency in Bitcoin, Steem, Eth etc are looking elsewhere especially a more stable and solid option like gold, as such request for gold has increased tremendously these past days due to sharp and steady decline in Bitcoin & other major altcoins like Eth, Steem, EOS etc.

According to latest article from DARIUS MCQUAID of UK Express titled "Bitcoin ABANDONED? Traders rush to sell off cryptocurrencies for GOLD as prices drop"

GOLD sales have increased this week as bitcoin traders rush to sell their falling cryptocurrency for bullion, according to some dealers

Read up more from Source -www.express.co.uk-

What does this means for Investors in cryptocurrency?

In recent pasts, we have seeing the rise and fall of bitcoin and other major altcoins and the current trend have been so worrisome for major stake holders (whales and dolphins) who has witnessed the value of their investments drop sharply. As such they are changing their strategy as hardcore HODLers and going for gold instead which is always stable and secure. But is gold the only solution for a good long term investments? My answer is no as buying SBD & Steem after which you power up is even a better options and below are my reasons;

-The largest cryptocurrency markets mainly in Asia ( China & Korea) are rushing and buying up Steem and SBD hence why prices has been pumping in Asian market this week because of their understanding of what the future holds for steem which is bright. This means with increase in demand and depreciating circulation supply, SBD will be a very good option for investment being that early investors will see their investments moon always.

Strong united community- Steem has the backing of its growing and dedicated userbase through the steemit social media outfit and many folks are already investing in steem and powering up as such steem will be a wise place to invest ones earnings as it has potential for growth and since the cyrptocurrency market is powered by community, the future trends is bright.

-Innovative product- Steemit has a lot of excellent contents through its growing members posts either through blogging or vlogging and earning good amounts of Steem and SBD. More so, steemit already targets to take over from Facebook and Youtube as users find it better to post and make a living for themselves rather than the companies they use their platform. Also excellent products like SMT's and Steempress ( like new wordpress) is also a good sign for steemit as such, the price & value of steem will keep rising because of what they offer their growing users which is not seeing elsewhere.

So with these few points, I see acquiring more SBD and Steem and powering up as better investment option than stacking in Gold being that you see your investment not only secure but growing fast.

Do you agree with me or is @kenhudoy making useless assertions as usual.
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Is Increase demand in Gold mean End to BTC, STEEM, EOS et al?

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