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The Bitcoin vs Gold Debate

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Midas Letter

The Digital Businesss Channel for Cannabis, Crypto and Technology Stocks.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.

Bitcoin’s spectacular new-year rally finally fizzled out a bit today as the volatile cryptocurrency price fell 17%. That’s the biggest drop since March.

Compared with the massive rally Bitcoin has seen (up to as high as US$34,000), the losses aren’t all surprising.

The volatility and drastic fluctuations highlight an important note for the most famous cryptocurrency: It is an opportunistic, emerging trade – but at the end of the day will always pose risks. Bitcoin has loose monetary conditions where hedge funds have the ability to extract the supply of the coin out of popular exchanges to manipulate prices. On top of this, Bitcoin can never be “money” as it has no sovereign backing. It is a speculative trading vehicle.

Gold has something that is the opposite of Bitcoin. It has history and legacy.

The precious metals price rose to its highest in nearly two months today. If the price gets to $1,970, then we could be looking at a breakout.

With the uncertainty in the markets as COVID cases keep ramping and the slide of the U.S. dollar, should you be looking to trade the new-school, fast-rising Bitcoin or the old-school, traditional gold?

Watch the full interview to find out now!

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.