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Will Bitcoin skyrocket as gold did in 2013 after the ETF approval?

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Gold has exceeded many challenges over the last centuries, and it is seen as the best place to invest. However, some investors are proposing that Bitcoin (BTC) can be an excellent competitor to gold and that it has the greatest opportunity to dethrone gold as the safest haven to invest in.

Over the years, there have been other contenders to gold: florins, salt, and ducats; and none of them have been able to keep up with the market.

Bitcoin is a decentralized digital asset, and it is seen as the biggest competitor to gold’s value at the moment. During the closing part of 2017, the price of Bitcoin increased from $1000 to $19,000, and it is taking the same path as gold as a substitute for fiat currencies.

Gold and Bitcoin market chart

Gold had a big run-up in the 1970s. At that time, however, Richard Nixon unsealed the United States Dollars from gold, and that increased the worth of gold as a result of demand and supply. Gold increased from $20 to $30 an ounce to about $600.

However, the price of gold became bearish and decreased to $300 an ounce. In the year 2003, the gold-backed ETF was introduced into the market by the Rothschilds and the Deutsche Bank; and this skyrocketed the price of gold to $1300 an ounce, which is a 300% increase.

Similarly, if we are to take a look at Bitcoin at the moment, Bitcoin has an all-time high of about $20,000 – at the time of writing, the price of Bitcoin sits at $7,465, with a market capitalization of $128.09 billion, according to CoinMarketCap.

Bitcoin and gold charts look very much alike. Bitcoin (BTC) currently has the same bullish and bear runs as gold had in the year 1980s. It is important to know that gold’s chart happened in a 20-year cycle, while that of Bitcoin occurred within a year, but both charts look very similar. In Bitcoin’s case, it occurred within a year at a fast pace due to demand and supply.

The introduction of ETF could boost Bitcoin’s price to $60,000

As stated earlier, when ETF was approved on gold, there was a massive increase. And now, in the case of Bitcoin, ETF is set to be approved very soon, and we could actually see a massive bullish run if the approval isn’t a lock-down scenario. As in the case of the 300% increase on gold, Bitcoin’s price could rise to $80,000. But let’s just keep 26% off to be on safe side, so even if Bitcoin jumps in value by 273% instead of 300% as Gold did, it could rise to $60,000 – which will be a 940% return.

The market capitalization of gold – with all the gold that has been mined – is about $8.7 Trillion. However, if Bitcoin attains a $60,000 price mark, then, its market capitalization will be about $1.26 Trillion with a circulating supply of 21 million.

Bitcoin’s market capitalization at $60,000 has the tendency to increase further, if it gets more regulation clarity, and if a supreme country backs their currency using Bitcoin (BTC) as a reserve currency. There could be a whole lot more that can increase the market capitalization of Bitcoin at that $60,000. Meanwhile, as things stand, this is the right time to invest in Bitcoin due to the fact that great things are coming up.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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