Gold Is Getting Really Borring
Everyone is worried about the hard fork in Bitcoin coming this August. Alt coins are very exciting right now. And exciting can lead to massive gains... or losses.
By contrast, Gold - the world's favorite investment has never been more boring.
According to Bloomberg:
the world’s favorite haven investment hasn’t been calmer in years.
Gold is partly following a trend in other markets, with assets supported by sustained low interest rates, but also reflects factors unique to the metal.
Miners have given up hedging future production under pressure from shareholders concerned that it pushes metals prices lower. At the same time, central bank trading has dried up, handing more control of the market to jewelers who tend to buy on dips and sell on rallies.
The volatility on gold is low right now
Sleepy assets like gold may be stable places to hold investment, but crypto's volatility may be it's strength. When Bitcoin surpassed 1k, people thought it was crazy to buy at that price, and a correction immediately followed, seemingly vindicating those nay-Sayers. But today Bitcoin sits at over 2.4k! And yet, hundreds of altcoins weren't so fortunate.
(Bitcoin in 2013)
Crypto is a heartbreak game. But boring, it's not.