Bitcoin news is rolling in with a thunderous sound to the ears of investors. It’s already been estimate the coin will gain nearly $24,000 in value by a professional analyst [read here] and has hit a new high, just last month. Now the price of Bitcoins have hit another milestone, topping the price of the gold ounce.
‘Even though bitcoin and gold are both thought of as alternative assets, they don’t usually trade in correlation,’ a quote from TechCrunch.com and reason this milestone is important.
Gold is and has been the standard for all investors since the beginning of the stock market. It’s physical, it’s limited, and it’s always in demand.
Things have changed for the first time since the stock market was created however, the digital age. Never before has their been such demand for a non-tangible world as today. People shop, communicate, exercise, and find entertainment with their phone today. Therefore, this alternate world that’s been created has needed it’s own version of the ‘gold standard.’ This might be the Bitcoin, the world’s most recognized crypto currency.
While the price of the gold ounce and 1 bitcoin are not far apart, each slightly just above $1200, it’s not settle. However, for Bitcoin to reach such heights, increasing 185% in value in the last year alone, is screaming ‘invest now’ as the government is soon to be forced to regulate the market to get their cut of the cryptocurrency world. The SEC will announce soon if Winklevoss bitcoin ETF, the first Exchange Transfer Fund for Bitcoin, will be approved to make purchasing the currency more normal for common buyes.
Worth more than gold at this point, if Bitcoin becomes a common method of purchasing goods to society, it could see phenomenal value growth. The currency is available in limited supply with the digital world being the only industry since Oil to become worth one trillion dollars , the coin would literally be ‘better than gold.’
Other crypto currencies are also available and gaining value. However, none rival Bitcoin to date in terms of reaching a close date of ‘everyday usage.’ None the less, digital cash or “DASH” coins also saw an increase in value. These coins which are far less expensive at just under $60 could also be a solid investment for the moment. In the last week alone, their value doubled in price. Had you invested just 10 days ago you could have purchased a Dash coin for $24.20 and resold today for $54.75 according to Market Watch [read here].
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