Price Analysis

Bitcoin Price Analysis: As the Dust Settles, Bitcoin (BTC) Vs. Gold Debate Resumes

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  • Goldmoney.com has tried to convince people against the Drop Gold campaign of Grayscale.
  • The 2019 prediction places the coin at 12,000 USD.

As the short-term Bitcoin price rally stops, the debate again rises of superiority between Gold and Bitcoin (BTC). Bitcoin’s recent growth was working as a déjà vu of pre-2018 growth. The short-term growth made many new investors dive into Bitcoin after selling other precious holdings. Investors were largely convinced by the Drop Gold ad campaigns of Grayscale.

The ad campaign encourages people to sell the yellow metal and start investing in the king of cryptocurrencies. But, GoldMoney.com has recently tried to convince people with the help of infographic and white paper for sticking to the yellow metal. The company said, “Bitcoin needs gold to exist, Gold doesn’t need Bitcoin to exist.” However, the conflict between these two precious investment tools is not going to end anytime soon. But Bitcoin (BTC) is likely going to have a bullish period ahead. By the end of 2019, the coin may reach 12,000 USD. Let us look at the current figures of the coin.

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BTC/USD YTD Price Chart – TradingView

BTC Price Chart

 

Bitcoin Price Statistics-

Bitcoin (BTC) 06th June 01:53 UTC
Rank 1st
ROI (Return On Investment) 5,695.91%
Coin Circulation 17,743,062 BTC
Market Cap 141,774,253,777 USD
Bitcoin Price in USD 7822.16 USD
All-time High 20,089.00 USD
24h Volume 23,387,853,556 USD

BTC Comparison-

Bitcoin price has managed to grow steadily throughout the year until now. After the disaster it faced in 2018, the coin has made quite a journey. The lowest point of the coin was on 07th February at 3360.63 USD. However, a major growth happened near April when the coin gained 27.71% in just 9 days. Another major growth started near the ending of April. Bitcoin grew by 59.64% in just 16 days. The Market Cap on 06th May was 100,545,882,599 USD and the value of each coin was 5687.44 USD. The current market cap and the value of each coin are respectively 41% and 37.53% more than the figures for last month.

Bitcoin Price Prediction-

Looking at the strong fundamentals, it is easy to say that the coin will have a bullish period by the end of 2019. As per our prediction, Bitcoin (BTC) is likely to be there around 12,000 USD by that time.

Conclusion-

New entrants should invest in Bitcoin (BTC) only if the target is a long-term holding. Speculators will face blunt losses whenever Bitcoin (BTC) cools off from a price rally.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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