Gold is the global asset to hedge against risk, but when you drill down into mindshare, you can see what looks like bitcoin eating into the interest in gold, at least in the U.S.
I always write about this basic idea when it comes to any investing: which way is the market going, up or down?This is the question on bitcoin.Now bitcoin is going up and I will be saying “It’s going up.” I think it will hit $6,000 soon and go on to $10,000.The bitcoin chart: the crypto winter is overThere is apparently a lot of China interest in crypto right now, with tether selling at a premium. This makes sense if the market considers a yuan dollar depreciation on the cards.
Bitcoin and altcoins have to have positive money flow because they are"mined" and have their monetary bases expanded with every block. For bitcoin $9 million of new money must enter every day to match new supply. It's not that straight forward because if miners hodl on to some or all of their bitcoin, less money needs to enter on a daily basis to prop up the price.
Both assets have about the same emission as a percentage; the difference being the market cap of gold is about $5 trillion and bitcoin is $0.09 trillion.
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