Comparison between Bitcoin and Gold: Which One is Precious in 2021?

Comparison between Bitcoin and Gold: Which One is Precious in 2021?

Comparison between Bitcoin and Gold: Which One is Precious in 2021?
Photo Source: Start-Money

 

The Coronavirus causes the stock and bond markets in the United States (US) to move volatile. CNN Business revealed that this should be good news for gold.

What about Bitcoin?

But gold has recently lost its luster due to bitcoin, which price has gone up like crazy. As a result, gold has recorded a price decline of up to 9% this year. But bitcoin rose to 70% in early 2021 and even touched $50,000 per chip.

CNN said that the gold price, which had rallied at the end of last year, did occur because the market was afraid of the lockdown in many countries.

The emergence of bitcoin, basically supported by many large companies such as Tesla and MicroStrategy, made the currency created by Satoshi Nakamoto soar.

Many professionals said there is a potential for gold prices to rise again. If the price of gold fortuitously rises, it’d be an enormous competitor in the stock market against Bitcoin. But it won’t be probably.

JP Morgan prognosticated that the price of gold may suffer in the upcoming years.

Director of Market Strategy for Algerian Brad Neuman said the rebound in gold prices could not be in line with the falling price of bitcoin.