It’s called digital gold for a reason. There are many parallels that we can draw between the physical asset that is the original form of money and this new digital asset that is the future of money.
I remember a time back in 2009 when gold crossed $1000 an ounce for the first time. Investors were feeling generally uncertain about the future of Europe and inflation in the USA and were fast reverting to gold as a source of stability. Analysts were calling for $2000 an ounce, some were as aggressive as $5000.
(This chart shows the price from 1960 until today)
It never did get to $2000 though. The highest price came in at $1920 an ounce in 2011. At that time leverage requirements changed in the USA and eventually, sentiment shifted.
“In the long term, the price of gold will always rise.”
My grandfather taught me that and I still believe it’s true. If you’re a short term, high risk trader in a six year bear market that sentence bears little relevance.
The purpose of this writing is not to scare you. Rather, we need to note that cryptocurrencies are the most fast paced
Read more ... source: CryptoCoinsNews
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