BTCUSD
NASDAQ:GOLD Bitcoin and Gold are more and more often compared with each other. And for crypto currency this is another reason to appreciate, as it means investors take it seriously.
Lately, Goldman Sachs' analysts Jeffrey Currie and Michael Hinds said that gold was better than crypto currency. They pointed that the riskier the market environment, the higher the demand on the metal.
They compared Gold and Bitcoin by several criteria, and discovered that by longevity, intrinsic value and stability the former is better than the latter.
However, the only notion that the long established asset like Gold is compared with recently emerged currency may Bitcoin even more attractive.
And judging by the history of Gold, Bitcoin has huge potential in store. Some years ago gold ran from $250 to $1900, and every investor or analyst used every opportunity to claim it a bubble., but it’s still trading above $1,000. Bitcoin has run from $800 to $5,500 since the year start and it’s already called a bubble. But is it the end?
The recent slide for me looks a good opportunity to buy Bitcoin with the nearest target at $5,800.