Nov 23, · This is definitely the next new frontier. But from the Wild West, bitcoin by bitcoin, the new frontier is moving into mainstream. When you compare bitcoin to the Wild West, you find plenty of similarities. The gold fever revolution started in when James W. Marshall discovered gold at Sutter’s Mill in Coloma, California. Nov 17, · Bitcoin in particular is viewed as "digital gold," a long-term store of wealth and a safe haven in the tradition of gold. Better still, Bitcoin has a weak correlation with other assets. So crypto. Bitcoin is stored digitally, and therefore it cannot deteriorate. It's also impossible to destroy Bitcoin. Gold is also very durable and retains its physical characteristic well, but it can be destroyed or devalued. Both gold and bitcoin are very durable, but for different reasons.
Should i buy bitcoin or bitcoin goldBloomberg - Are you a robot?
The key is not selling. And it did drop, big time. If you had bought when it was high and had a faint heart, you would have lost your shirt. Now, here is the chart for the same stock, after more time elapsed. The stock was Amazon. The only reason why you should have HODL Amazon was because company was linked to a new frontier of its time, the Internet and specifically to the Internet retail market. With the US election behind us, the markets have gone back to Covid, vaccines, and stimulus.
Looking at the past four years, bitcoin has performed best when the dollar has dropped. In August, I talked about the OCC allowing banks to provide cryptocurrency custody services to their customers. Paypal just got into bitcoin. PayPal has hundreds of millions of users that will have the opportunity to buy bitcoin and a number of other cryptocurrencies at the touch of a button.
Just think about one thing. If the Internet was about the digitization of information, communication and commerce, bitcoin is the digitization of money and value. Think about how the Internet has changed you life in the last 20 years and image how bitcoin will do the same in the next 20 years. Only by understanding how early we are in its adoption and development, can we realize how much more development is ahead of us and what that means for its price.
Start with a small amount of money. Buy only what you can forget. Add some more, each week or each month. Go long and HODL. And that is something you can take to the bank! Image Source. Subscribe by email to join the other Fintech leaders who read our research daily to stay ahead of the curve. Check out our advisory services how we pay for this free original research. This site uses Akismet to reduce spam. To add, buying bitcoin tokens does not give an investor any ownership in the underlying blockchain.
With no ownership in the solution that has the potential to actually drive this digital revolution, bitcoin investors are pinning their hopes on other investors being willing to pay more for a currency that exists only in computer code than they did. So, why is bitcoin rallying? I'd surmise it's a combination of short-term emotions, technical analysis i. After all, it's nowhere near as easy to bet against bitcoin as it is to bet against a publicly traded stock.
History has proved that sentiment can shift at the drop of a pin in the cryptocurrency space. I'd suggest investors keep their distance from bitcoin. Investing Best Accounts. Stock Market Basics. Stock Market. Industries to Invest In. Getting Started.
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