{"id":2200,"date":"2021-11-02T01:19:00","date_gmt":"2021-11-02T01:19:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3559103_AE59103_0"},"modified":"2021-11-02T01:19:00","modified_gmt":"2021-11-02T01:19:00","slug":"gold-vs-crypto-debate-is-skewed-toward-bitcoins-bull-run-notes-kalkine-media","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=2200","title":{"rendered":"Gold vs. crypto debate is skewed toward Bitcoin’s bull run, notes Kalkine Media"},"content":{"rendered":"\n\n\n
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SYDNEY<\/span>, Nov. 2, 2021 \/PRNewswire\/ — Many big-ticket investors, both high net individuals and institutions, are claiming that today’s record-high inflation can be fought better by parking money in cryptocurrencies, particularly Bitcoin.<\/p>\n

Low rates may go, inflation may stick<\/b><\/p>\n

As of now, central banks have been maintaining liquidity. Jobs are being created in the US and Canada<\/span>, and employment has reached the pre-pandemic level, thanks to near-zero policy rates by the Fed and the Bank of Canada<\/span>.<\/p>\n

But the accommodative policy stance might not last beyond a few more months. Inflation, however, cannot be curbed like quantitative easing by a simple policy maneuver of the central bank. Investors are justified in their search for avenues where investments can appreciate enough to outshine inflation.<\/p>\n

Gold vs. crypto 2021 returns<\/b><\/p>\n

In 2021, cryptocurrencies have performed exceedingly well, except for a few phases of downward slide. A simple set of data \u2013 price growth \u2013 corroborates this. On January 1, 2021<\/span>, Bitcoin was priced at nearly US$29,000<\/span>. As of now, it is hovering around US$60,000<\/span>. Another major cryptocurrency, Ether, started 2021 with an under-$1000<\/span> price tag and has grown multi-fold to US$4,000<\/span> as of now.<\/p>\n

Gold, the most preferred haven for ages, was priced at nearly US$1,900<\/span> per ounce at the beginning of 2021. Its value has anything but gained as of today. At the time of writing, gold is priced at US$1,780<\/span> per ounce.<\/p>\n

But a comparison between price growths cannot be enough to justify the rush in cryptocurrencies. Bitcoin’s price more than doubled through just the first four months of 2021. But by mid-July, it had lost almost half its value. Another popular cryptocurrency, Dogecoin, lost more than half of its value between May and July after posting weeks of bull appreciation.<\/p>\n

Investor interest trumps underlying volatility<\/b><\/p>\n

A range of factors contributes to price movement in cryptocurrencies. This includes tweets by whales and the stance of regulators.<\/p>\n

Despite the lack of fundamentals and the hyper-volatility that refuses to subside, the space is attracting investor interest. So far, gains have outshined gold, given the timing of investment in a particular crypto was opportune. Even so, the ‘gold vs. cryptos as a hedge against inflation’ debate is heavily skewed toward cryptos’ fragile and intermittent bull run, which lacks medium-to-long term predictability.<\/p>\n

Kalkine Media’s research is purely informational in nature and aims to analyze emerging cryptocurrency trends as well as comment on underlying risks and rewards.<\/i> (<\/i>www.kalkinemedia.com<\/a><\/i>).<\/i><\/p>\n

Media Contact:
Honey Bhargava<\/span>
honey.bhargava@kalkine.com.au<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SYDNEY, Nov. 2, 2021 \/PRNewswire\/ — Many big-ticket investors, both high net individuals and institutions, are claiming that today’s record-high inflation can be fought better by parking money in cryptocurrencies, particularly Bitcoin. Low rates may go, inflation may stick As of now, central banks have been maintaining liquidity. 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