The cannibalization of the demand of Gold by Cryptocurrency (Bitcoin)
Observations
The chart bellow shows the present sale prices for but coin and gold in the international market as at 8:00am this day 11-07-2017.
Image source
image source
Wow! This is really surprising, it's seen from this chart that the price of bitcoin has dropped from an average of $2650 to $2352. Even with the drop of bitcoin, it's still $1000 higher than that of gold.
I have taken most of my time to carefully watch as the the price of bitcoin pushes its way way up and pulls down but the price of gold, has remained stagnant over a period of time.
Conclusion
Investors will always be investors but I strongly advice and encourage that we should also make use of this opportunity and invest a little in the gold market for future investment.
that's good to know thanks a lot for sharing and keep on posting ;)
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