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Author Topic: Bitcoin Investors Are Moving to Gold  (Read 942 times)

Joankii

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Bitcoin Investors Are Moving to Gold
« on: January 28, 2019, 04:14:28 PM »
Jan Van Eck, CEO of Van Eck Associates, suggested that Bitcoin (BTC) investors have moved to gold during an interview with CNBC  published on Jan. 26.

Van Eck declared that he thinks “that Bitcoin pulled a bit of demand away from gold last year, in 2017.” Afterward, he concluded:

“Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going the other way.”

During the same interview while talking about Bitcoin exchange-traded funds (ETFs), Tim Seymour, founder and chief investment officer of Seymour Asset Management, declared that Bitcoin’s function as a store of value is questionable:

“Not only have we lost all liquidity on the underlying [commodity] but truly outside of the existential blockchain argument, it's been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there's no disputing that.”

Van Eck’s firm created what CNBC defined as the most well known gold ETFs, namely the GDX gold miners ETF and the GDXJ junior gold miners ETF. Van Eck declared that those assets “have been acting tremendously well over the last two or three months” before underlining that they seemingly do the opposite of what stock markets do.

“In the majority of the days in Q4 when the S&P was down, GDX was up,” he said, before concluding “that decoupling makes me really excited about gold shares as a diversifier."

Furthermore, according to CNBC, the GDX ETF grew by 14 percent in the fourth quarter, which according to the article is its best performance since Q2 2016. Moreover, the GDX is up under 1 percent this year, as the S&P 500 grew 6 percent.
As Cointelegraph recently reported, the Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its request for a rule change by the United States Securities and Exchange Commission (SEC). The requested change was meant to permit the listing of the ETF backed by VanEck and financial services company SolidX.
At the end of last year, Bitcoin’s (BTC) average daily price change was the lowest value reported in the past nine years, Cointelegraph reported.

vycl87

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Re: Bitcoin Investors Are Moving to Gold
« Reply #1 on: January 28, 2019, 08:39:41 PM »
This issue has been extended. I don't think this is an investment relationship between Gold and Bitcoin. Gold and different people in Bitcoin investors.

trofim21

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Re: Bitcoin Investors Are Moving to Gold
« Reply #2 on: January 28, 2019, 11:53:41 PM »
As far as I know, gold is not very relevant today either, since this asset has not been trading very well for me lately. In my opinion, this is a temporary phenomenon, large funds will soon start investing in Bitcoin.

Delgboke

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Re: Bitcoin Investors Are Moving to Gold
« Reply #3 on: January 29, 2019, 03:01:28 AM »
For me I don't think that there's any competition between gold and cryptocurrency so there's no panic if people are investing their money on gold instead of cryptocurrency.
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Bamzmeca

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Re: Bitcoin Investors Are Moving to Gold
« Reply #4 on: January 29, 2019, 03:11:20 AM »
I think it's just reviews that make people panic.
but on the other hand the news maker or the person who took advantage of the opportunity to buy bitcoin at a lower price.
if we panic, surely we will sell all our assets without thinking about the future

Redix

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Re: Bitcoin Investors Are Moving to Gold
« Reply #5 on: January 29, 2019, 11:29:57 AM »
Everyone has their own perception about investment, I don't think gold can be better. But for sure, it is not a must to invest in Bitcoin. You know what investment better for you. Sometimes it depends on our abilities, for people don't really understand about the potential of Bitcoin, it is no problem to leave. However, this is my own view. I don't think to support Van Eck..

rituvohra01

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Re: Bitcoin Investors Are Moving to Gold
« Reply #6 on: January 29, 2019, 03:02:48 PM »
Every person has different choices if we say investors are moving to gold I think they are panic investors.

Synvc

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Re: Bitcoin Investors Are Moving to Gold
« Reply #7 on: January 29, 2019, 03:57:14 PM »
I think it's just reviews that make people panic.
but on the other hand the news maker or the person who took advantage of the opportunity to buy bitcoin at a lower price.
if we panic, surely we will sell all our assets without thinking about the future

LOL, it's true that most FOMOs are circulating, making people panic

Joankii

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Re: Bitcoin Investors Are Moving to Gold
« Reply #8 on: January 29, 2019, 04:07:32 PM »
Everyone has their own perception about investment, I don't think gold can be better. But for sure, it is not a must to invest in Bitcoin. You know what investment better for you. Sometimes it depends on our abilities, for people don't really understand about the potential of Bitcoin, it is no problem to leave. However, this is my own view. I don't think to support Van Eck..

That's right, because every piece of news circulating must be a matter of blockchain technology that can affect the prices of other Bitcoin and coins. So we must be wise to choose which is more profitable

khufuking

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Re: Bitcoin Investors Are Moving to Gold
« Reply #9 on: January 29, 2019, 04:30:37 PM »
It is just logical when investment money go into something it must go out of another thing or else from where it will come but that does not have to be gold I didn't see any numbers to back up his claims, all his talk is just a logical talk that anyone can say, maybe this money came out of the stock market.

Zen10

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Re: Bitcoin Investors Are Moving to Gold
« Reply #10 on: February 07, 2019, 02:50:23 PM »
There could be some truth to it.

Back in 2017, many crypto people are bashing gold saying that bitcoin has exceeded gold's market because people are transferring to BTC.
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Synvc

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Re: Bitcoin Investors Are Moving to Gold
« Reply #11 on: February 07, 2019, 04:39:20 PM »
It is just logical when investment money go into something it must go out of another thing or else from where it will come but that does not have to be gold I didn't see any numbers to back up his claims, all his talk is just a logical talk that anyone can say, maybe this money came out of the stock market.

The stock market was immediately monitored by a third party where we could not move freely to make buying and selling transactions with other people

Grypsy

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Re: Bitcoin Investors Are Moving to Gold
« Reply #12 on: February 07, 2019, 04:42:37 PM »
I have that thought too because Bitcoin price at the moment is too volatility and easy to manipulate by group of people who want to control the market
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Barb

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Re: Bitcoin Investors Are Moving to Gold
« Reply #13 on: February 07, 2019, 05:07:02 PM »
I have that thought too because Bitcoin price at the moment is too volatility and easy to manipulate by group of people who want to control the market
I’m planning on cut some portion from my portfolio and move to Gold because the market now is too weak that I can’t see any recovery

Dkingbh

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Re: Bitcoin Investors Are Moving to Gold
« Reply #14 on: February 08, 2019, 07:36:04 AM »
Sometimes it depends on our abilities, for people don't really understand about the potential of Bitcoin, it is no problem to leave.

 

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