{"id":384213,"date":"2019-05-30T00:01:11","date_gmt":"2019-05-30T00:01:11","guid":{"rendered":"https:\/\/wncen.com\/?p=384213"},"modified":"2024-06-11T07:20:15","modified_gmt":"2024-06-11T07:20:15","slug":"flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/","title":{"rendered":"Flipping Gold is \u201cInevitable\u201d In Digital Age, Would Take Bitcoin Price to $350,000"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">In recent weeks, as <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a>\u00a0skyrockets, interest in the crypto market has been revived once again. And with it, so has the \u201cdigital gold\u201d moniker thanks to Grayscale Investments\u2019 \u201c<a href=\"https:\/\/wncen.com\/2019\/05\/15\/does-grayscales-latest-dropgold-for-crypto-effort-entirely-miss-the-point\/\">Drop Gold, Buy Bitcoin<\/a>\u201d television marketing campaign.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Gold is among the first ever transfers of value used across the globe and is still looked to as a store of value even today, as well as a hedge during economic crisis. However, in today\u2019s digital age, the first ever cryptocurrency as digital gold \u201cflipping\u201d actual physical gold is \u201cinevitable\u201d and when it happens, it\u2019ll take Bitcoin price to $350,000 or more.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Analyst: Bitcoin Flipping Gold is Inevitable<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> and gold share many similarities, including being used as a currency, transfer of wealth, store of value, and more \u2013 they also both can be \u201cmined\u201d for and boast relative scarcity as one of the reasons giving it such value. That scarcity is where the differences between <a href=\"https:\/\/wncen.com\/2019\/03\/25\/bitcoin-price-gold-market-cap\/\">the two assets<\/a> begin to show.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/04\/24\/tech-stocks-gold-oil-bitcoin\/\">Tech Stocks, Oil, and S&amp;P 500: Bitcoin ROI Beats Them All\u00a0<\/a><\/em><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin is hard capped at 21 million BTC, while there is potentially an endless supply of gold that can be tapped into. Gold having a physical attribute over the crypto asset&#8217;s digital-based existence is both a pro and a con for the chemical element, making it ideal for jewelry and other flashy material items, but preventing it from easily being transferred or stored. BTC on the other hand has no physical footprint for storage, and can be sent in seconds with a few clicks.<\/span><\/p>\n<p>https:\/\/twitter.com\/Rhythmtrader\/status\/20742402<\/p>\n<p class=\"p1\"><span class=\"s1\">The benefits of Bitcoin in today\u2019s digital age far outweighs anything an archaic asset such as gold can provide. One analyst says that because of this, the cryptocurrency flipping gold is \u201cinevitable.\u201d<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Flips Gold at a Price of $350,000 Per BTC<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Should Bitcoin actually \u201cflip\u201d gold as this analyst and many other predict, it would take the entire BTC market cap \u2013 currently at around $155 billion \u2013 and take it above gold\u2019s market cap of $7.5 trillion. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Given Bitcoin\u2019s clear benefits over gold, imagining it flipping the tried-and-true asset is simple, however, this would represent an over 4 million percent increase in market cap \u2013 a number that when read aloud <a href=\"https:\/\/wncen.com\/2019\/03\/25\/bitcoin-price-gold-market-cap\/\">sounds like an impossible feat<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/03\/25\/bitcoin-price-gold-market-cap\/\">Bitcoin Price Chart Shows How Surpassing Gold\u2019s Market Cap Is \u201cEasily\u201d Feasible\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">But still, if there\u2019s ever been an asset that can give the precious metal a real run for its value, it would be Bitcoin. The unique digital asset has potential to become the global currency for the internet, and most crypto investors expect it to be eventually worth upwards of $100,000 to millions of dollars per BTC. Should those prices ever be achieved, Bitcoin will indeed have a chance to \u201cflip\u201d gold and earn the right to the title \u201cdigital\u201d version of the asset.<\/span><\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>In recent weeks, as Bitcoin price\u00a0skyrockets, interest in the crypto market has been revived once again. And with it, so has the \u201cdigital gold\u201d moniker thanks to Grayscale Investments\u2019 \u201cDrop Gold, Buy Bitcoin\u201d television marketing campaign. Gold is among the first ever transfers of value used across the globe and is still looked to as a store of value even today, as well as a hedge during economic crisis. However, in today\u2019s digital age, the first ever cryptocurrency as digital gold \u201cflipping\u201d actual physical gold is \u201cinevitable\u201d and when it happens, it\u2019ll take Bitcoin price to $350,000 or more. Analyst: Bitcoin Flipping Gold is Inevitable Bitcoin and gold share many similarities, including being used as a currency, transfer of wealth, store of value, and more \u2013 they also both can be \u201cmined\u201d for and boast relative scarcity as one of the reasons giving it such value. That scarcity is where the differences between the two assets begin to show. Related Reading | Tech Stocks, Oil, and S&amp;P 500: Bitcoin ROI Beats Them All\u00a0 Bitcoin is hard capped at 21 million BTC, while there is potentially an endless supply of gold that can be tapped into. Gold having a physical attribute over the crypto asset&#8217;s digital-based existence is both a pro and a con for the chemical element, making it ideal for jewelry and other flashy material items, but preventing it from easily being transferred or stored. BTC on the other hand has no physical footprint for storage, and can be sent in seconds with a few clicks. https:\/\/twitter.com\/Rhythmtrader\/status\/20742402 The benefits of Bitcoin in today\u2019s digital age far outweighs anything an archaic asset such as gold can provide. One analyst says that because of this, the cryptocurrency flipping gold is \u201cinevitable.\u201d Bitcoin Flips Gold at a Price of $350,000 Per BTC Should Bitcoin actually \u201cflip\u201d gold as this analyst and many other predict, it would take the entire BTC market cap \u2013 currently at around $155 billion \u2013 and take it above gold\u2019s market cap of $7.5 trillion. Given Bitcoin\u2019s clear benefits over gold, imagining it flipping the tried-and-true asset is simple, however, this would represent an over 4 million percent increase in market cap \u2013 a number that when read aloud sounds like an impossible feat. Related Reading | Bitcoin Price Chart Shows How Surpassing Gold\u2019s Market Cap Is \u201cEasily\u201d Feasible\u00a0 But still, if there\u2019s ever been an asset that can give the precious metal a real run for its value, it would be Bitcoin. The unique digital asset has potential to become the global currency for the internet, and most crypto investors expect it to be eventually worth upwards of $100,000 to millions of dollars per BTC. Should those prices ever be achieved, Bitcoin will indeed have a chance to \u201cflip\u201d gold and earn the right to the title \u201cdigital\u201d version of the asset. Featured Image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":384216,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,5294,2209,11849],"class_list":["post-384213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-digital-gold","tag-gold","tag-grayscale-investments"],"acf":[],"yoast_head":"\n<title>Flipping Gold is \u201cInevitable\u201d In Digital Age, Would Take Bitcoin Price to $350,000<\/title>\n<meta name=\"description\" content=\"In recent weeks, as Bitcoin price\u00a0skyrockets, interest in the crypto market has been revived once again. And with it, so has the \u201cdigital gold\u201d moniker\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flipping Gold is \u201cInevitable\u201d In Digital Age, Would Take Bitcoin Price to $350,000\" \/>\n<meta property=\"og:description\" content=\"In recent weeks, as Bitcoin price\u00a0skyrockets, interest in the crypto market has been revived once again. And with it, so has the \u201cdigital gold\u201d moniker\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-30T00:01:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:20:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-digital-gold-shutterstock_742063861.jpg?fit=5192%2C3461\" \/>\n\t<meta property=\"og:image:width\" content=\"5192\" \/>\n\t<meta property=\"og:image:height\" content=\"3461\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;El Toro&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Flipping Gold is \u201cInevitable\u201d In Digital Age, Would Take Bitcoin Price to $350,000\",\"datePublished\":\"2019-05-30T00:01:11+00:00\",\"dateModified\":\"2024-06-11T07:20:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\"},\"wordCount\":488,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-digital-gold-shutterstock_742063861.jpg?fit=5192%2C3461\",\"keywords\":[\"bitcoin\",\"bitcoin price\",\"digital gold\",\"gold\",\"Grayscale Investments\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\",\"url\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\",\"name\":\"Flipping Gold is \u201cInevitable\u201d In Digital Age, Would Take Bitcoin Price to $350,000\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-digital-gold-shutterstock_742063861.jpg?fit=5192%2C3461\",\"datePublished\":\"2019-05-30T00:01:11+00:00\",\"dateModified\":\"2024-06-11T07:20:15+00:00\",\"description\":\"In recent weeks, as Bitcoin price\u00a0skyrockets, interest in the crypto market has been revived once again. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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