The downfall of Gold - Will Bitcoin replace 6000 years of human history?

LeoFinance
1 month ago
2 Min Read
307 Words

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While Bitcoin has been rising through the Pandemic, Gold has reached its ATH in Summer 2020 and went sideways from there with a weak downwards trend. Despite all the printing of paper money we don't see a rise in value of what many consider to be real sound money. Some say this is similar to the reason why we saw gold crash when the pandemic hit. Others actually start to see Bitcoin as a real competitor in the store of value space.

What do you think is the reason we don't see gold rising right now?

If you want to learn more about Gold or follow the latest news on precious metals I recommend Kitco to you

Personally I do not hold much gold. I gifted some out for Christmas and I would love to not just have gifted a random yellow stone nobody will pay any value for in 100 years. I also tend to invest in Coins since there I have a historical value, which could almost act as an insurance against a sinking gold price.

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Silver

My main thing is actually Silver and I am very bullish on it mid-term. Silver has been known to be a spiker and I am expecting much from the little fella. I think the gold-silver ratio that existed for thousands of years shows that silver has been in hundreds of years of a bear market that spiked last century. Silver is very different from Gold, it is not just only pretty to look at but is actually industrially used and a lot of it in Technology Products!

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I could see a world where the gold-silver ratio over-corrects to one to one if we see a shortage of silver supply against a rising demand. What do you think?

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