Bitcoin become more worthy than gold

Bitcoin become more worthy than gold

By Naveed Siddique | Crypto ocean | 18 Jan 2021


Despite a sharp decline in March, which reduced its value to ہزار 4,000, the value of the bitcoin has risen nearly a third in the past four months.

During the same period, gold rose 13 percent, silver fell 14 percent and crude fell 70 percent.

The recovery in the value of the bitcoin comes two weeks before an extraordinary breakthrough, known as 'healing' (half), when the creation of the bitcoin will fall by 50%.

This will be the third time in Bitcoin's 11-year history that its creation has been halved, and market analysts believe it will push the value of the cryptocurrency to its highest level in history this year.

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The value of gold and bitcoin has risen sharply since mid-March following a lockdown to curb the Corona epidemic around the world.

As a result of this epidemic and lockdown, economies around the world slowed down and stock markets piled up like playing cards, after which investors felt the need for safe assets to protect their wealth.

That's why gold has traditionally performed better during times of economic uncertainty, but market data shows that limited supply of bitcoins has made it the best choice for safe havens.

Joshua Mohani, a senior market analyst at financial services provider IG, told The Independent: "The value of the bitcoin is rising before the half-creation in May, and investors are looking at it every four years Expect a positive impact from the supply shortfall.

According to Mohani, "Just as the value of the bitcoin increased by 182% in December 2018 after a supply shortfall, so we are seeing the effects of this third healing."

He added: "From a broader perspective, the sharp decline in growth by the central bank and government borrowings make it clear why so many investors are trying to avoid a fall in the value of their capital." Feeling we have 'Run out of gas' emotionally.

In addition, other cryptocurrencies have outperformed the bitcoin, with Ethereum's value rising 60 percent since the beginning of the year.

Nevertheless, the recent rise in the value of bitcoin and etherium is less than the increase when the price of bitcoin at the end of 2017 and the beginning of 2018 was twice the current value.

 

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Naveed Siddique
Naveed Siddique

I'm a passionate content writer and struggling for my future. I hope my future will be as bright as stars


Crypto ocean
Crypto ocean

Talking about crypto is my formost duty because many people's economy is not dependent on cryptocurrency. So support me if you like my content

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