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A Burning Topic in todays market is, Will Gold be replaced by Cryptocurrency?
The Gold was the best Investment back in days, The international market had provided surging platform for gold to keep up its value, as a Best Future Investment.
Now the scenario has changed totally, everyone wants to invest in Cryptocurrency instead of Gold. Does that mean Gold has lost its value ?
Answer is NO..
The Value Pump in the Cryptocurreny has bought a Lot of attraction into Crypto World. The competition between Physical asset and Digital asset will continue side by side. But the truth to accepted is, The dominance of Cryptocurrency is higher than Gold in present date. The Craze for Gold may not Disappear, but will continue as a Second competition for cryptocurrency.
Putting resources into gold is a centuries old reaction to geopolitical flimsiness and financial emergencies. Most of the World events has led to the value surge of Gold comapred to other resources. In the same way Bitcoin has also Kept the surge in relation to World Political Events.
Gold is a physical asset
The Best Arguement By Crypto world is that the Bitcoin and Altcoins are the Money of Future. But the main Annonimity of the Topic is, All the Digital Asstes Rely on Power. Will Cryptocurrency continue if There is a Heavy power cut?
What will happen if a natural disaster strikes and ruin out all the power supply. As we all know , Once the Power is not available for Cryptocurrency it can not be used for any buying or selling, It even can not be used for buying the Daily needs or Households.
The revelation of the Arguement can be put on hold near saying, Fiat moneycannot be disposed of completely in accordnace with cryptocurrency. A storage of Gold can bring out the Necessary Alterations required when Digital Asset fails.
I have said earlier in this Article that, Physical Asstes can be a Second competitio for Digital Assets. In this Ever changing world, Change is inevident. I Totally agree that Cryptocurrency is the Money of future and bring all the Cohesion and Adhesion between Community, but on the same other contrast, We can not ignore the Physical asset like Gold and fiat currency.
Cryptocurrency market is too volatile
Cryptocurrencies can be used to trade vehicles, buy goods and services, just like fiat currencies. The Value of cryptocurrency is totally based onthe people sentiments and the trader participation.
The price of Bitcoin can change with the number of People involved in Crypto market, this makes them very volatile, Because of which the Playground makes Investors a Risky game to play with Market.
Cryptocurrencies can therefore not be considered as a safe haven investment.
Gold on the other hand is a steadfast commodity with a high liquidity. According to the London Bullion Market Association, around $25-$30bn worth of physical gold are traded on a daily basis.
The cryptocurrency market may be expanding quickly, but digital tokens will replace fiat currencies – not gold. Precious metals will still be relied up by investors to diversify portfolios and build a store of wealth.
On a final thought Gold has been the house hold investment of all riches and mis-class. If the Cryptocurrency takes over all the financial bankings, Not everyone will be on a Enjoying side. There are lot of examples from past, where Changes has ruined the people who couldnt understand or go with the change. Sometimes its catastrophic.
These are my thoughts on Cryptocurrency replacing Gold.
Do not hesitate to counter my thoughts and Share your knowledge...!!!
Leave your Thougts and knowledge in the comment section.
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you making great work nice to see this
ThanQ for your encouragement ..