It’s time to get rid of the misconception that gold and Bitcoin are at odds with each other. Gold, historically viewed as a stable investment, is often cast in sharp contrast with Bitcoin, which is criticized for dramatic price fluctuations and market volatility. But what is missing in this incorrect comparison between the two is a look at the larger context. Specifically, gold has been around for thousands of years, and has therefore had a much longer time to demonstrate its value as an alternative asset, while Bitcoin only came onto the scene in 2009. So it should be expected that whenever there is a new currency and technology introduced, it will take some time for the dust to settle.
Indeed, while Bitcoin experienced a meteoric rise in price in 2017 (over 1300%), the cryptocurrency space as a whole has faced increased volatility in recent months due to increased regulation from the SEC as well as with online advertisers such as Facebook and Google. However, we believe that the setbacks on Bitcoin’s price will only be temporary, as greater regulation is indicative of mainstream adoption, and helps filter out the bad actors. Furthermore, the technology powering bitcoin and cryptocurrencies as a whole is continuing to evolve, cementing crypto’s influence and staying power in the financial sector and beyond.
To read the full article, click HERE.