Let’s repeat that headline from Forbes: “Is It Time To Own Gold or Bitcoin”? Duh, answer? BOTH. We at FintekNews have been preaching and doing just that (http://finteknews.com/bitcoin-firms-jumps-gold-ready-rock-82317/) for quite some time. We get it. So, why does it have to be ETHER/OR? Own BOTH.
“Just like your house provides you with a shelter from all the dangers (to a certain extent), investing in a safe haven provides the same comfort. A safe haven is a precautionary trade which investors trade under heightened uncertainty. The ultimate safe haven trade for investors has been the yellow shining metal, however, a new popular derivative which is behaving like a safe haven is cryptocurrency. Bitcoin stands tall in that basket because as of today the collective market cap of all the cryptocurrencies has reached a $161 billion for the first time. The acceptance of Bitcoin has been phenomenal especially this year (it has been highly volatile as well).
Heightened Geopolitics Moving Gold & Bitcoin
Investors have panicked after the North Korean missiles have flown over Japan and the president of Japan has called the action reckless. The Asian markets have felt the pain of this event (the Nikkei and HSI indices dropped -0.45% and -0.35% respectively) and the situation is equally intense for the European and US markets. I would expect this pain to become more stark as the counter-reaction from the US would make investors only more nervous. Statements such as “all options are on the table” are the most worrying…”
Full Story at Forbes