Gold or Bitcoin

Just a few days ago I published a post and a chart showing that this week the spot gold price hit its lowest level in the last 2 years.

Gold or Bitcoin - gold bars

gold bars

I found this amazing when one considers all the turmoil in the world especially in Ukraine and Taiwan.  If you’d like to see that post here’s the link:

Gold or Bitcoin

Bitcoin price drop - Gold or Bitcoin

Bitcoin bubble crash – $67,566 to $20,042

Now, if you’re into gold prospecting gold investing and my prior post made you feel a little down, maybe you can take some consolation in the fact that the drop in the spot price of gold was nowhere near as severe as what happened in less than a year on the price for Bitcoin.

When you look at this chart above, you should consider that the old saying in the stock market just buy a good asset and put it away and don’t look at it for a couple of years, no longer makes sense in today’s marketplace.

From Wikipedia, the free encyclopedia:

Bitcoin (Abbreviation: BTC; sign: ) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software.

Bitcoin has been described as an economic bubble by at least eight Nobel Memorial Prize in Economic Sciences recipients.

The word bitcoin was defined in a white paper published on 31 October 2008. It is a compound of the words bit and coin. No uniform convention for bitcoin capitalization exists; some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin, lowercase, for the unit of account. The Wall Street Journal, The Chronicle of Higher Education, and the Oxford English Dictionary  advocate the use of lowercase bitcoin in all cases.

The legality of bitcoin varies by region. Nine countries have fully banned bitcoin use, while a further fifteen have implicitly banned it. A few governments have used bitcoin in some capacity. El Salvador has adopted Bitcoin as legal tender, although use by merchants remains low. Ukraine has accepted cryptocurrency donations to fund the resistance to the 2022 Russian invasion. Iran has used bitcoin to bypass sanctions.

Gold or Bitcoin


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