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Does Bitcoin beat gold and replace completely it in the future?

Does Bitcoin beat gold and replace it in the future?

  • 26 November 2020
  • 690 View

According to Cryptocurrency market news and analysis of the Minerland, Dan Tapiero, an activist of the leading gold industry said that “There is no doubt that the price of Bitcoin will increase twenty times.

Tapiro is one of the founders of Gold Bullion believes. He believes that the price of Bitcoin will reach the six-digit range sooner or later.

He has announced that $ 15 trillion in investment by large-scale investors could increase the price of Bitcoin by twenty times to reach $ 500,000.

What are the reasons for the upward trend of Bitcoin?

Dan Tapiro added that in my opinion, an investor should invest in both bitcoin and gold. Because over the next 5 years, I see gold at $ 4,000, which is double the price. But if the price of gold reaches $ 4,000, Bitcoin will probably be between $ 300,000 and $ 500,000. It will be 20 to 30 times the current price.

According to Tapiro, large investors in the economy like to allocate between 5 and 15 percent of their investment portfolios to Bitcoin. They have a capital of about $ 100 trillion, 15% of which is equivalent to $ 15 trillion.

He said that when the market value of bitcoin reaches trillions of dollars, it will be easier for larger investors to use, such as gold. Gold is a tool for storing value, and the storing value is only one aspect of Bitcoin. It is a complete network, so I believe this Cryptocurrency is bigger than gold. There is no doubt that bitcoin will overtake gold.

What are the reasons for the upward trend of Bitcoin?

What do great analysts think about the bitcoin trend?

Brian Estes, chief investment officer at Off the Chain Capital, is another analyst with a bullish view of bitcoin prices. In an interview with Reuters, he predicted a $ 288,000 price tag for Bitcoin by the end of 2021. The goal is not far from access for Bitcoin to exceed $ 100,000.

James J. Cramer, a CNBC presenter, is another person who believes in the bright future of Bitcoin. Cramer, who was one of the critics of Bitcoin during the 2017 uptrend, said in a recent comment that Bitcoin is a good safeguard against inflation. He said the new generation understands bitcoins, and there is a good feeling about cryptocurrencies among them.

CryptoHamster, a Cryptocurrency analyst who often uses charts from the past to predict future trends, recently said that the bitcoin price trend over the past two years is similar to the gold chart in the early to mid-2000s. Hamster predicts that if this historical trend continues and the US stock exchange fund is finally approved for bitcoin, the price of bitcoin will increase dramatically. It will then climb more than 400% in the coming months and years.

Some believe that this projected increase will be unstable. According to recent Ethereum World News Business reports, released a technical chart showing that the market value of cryptocurrencies is likely to decline significantly.

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