{"id":387674,"date":"2019-06-27T01:00:28","date_gmt":"2019-06-27T01:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=387674"},"modified":"2019-08-28T15:56:54","modified_gmt":"2019-08-28T15:56:54","slug":"gold-bull-run-bitcoin-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/gold-bull-run-bitcoin-btc\/","title":{"rendered":"Analyst: Gold Bull Run to Eat Bitcoin Alive, Takes Entire BTC Cap to Move Price 3%"},"content":{"rendered":"<p class=\"p2\">During times of economic distress, the shiny chemical element, commodity, and precious metal known as <a href=\"\/tag\/gold\" rel=\"nofollow\">gold<\/a>, is often looked to by investors seeking to place capital in a safe haven \u201chedge\u201d against falling fiat values, and in the face of uncertainty surrounding traditional markets such as real estate or the stock market. <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> shares many similarities between it and gold, earning it the title of being its digital counterpart.<\/p>\n<p class=\"p2\">In recent days and as global economy fears grow, both the precious metal and Bitcoin are beginning to show their values as a hedge in the face of a potential downturn. The two assets are each about to embark on their next bull runs. However, according to one financial analyst, gold\u2019s bull run will leave Bitcoin in its dust, and crypto investors may increasingly be reinvesting their crypto returns into gold.<\/p>\n<h2 class=\"p2\">Analyst: Entire BTC Market Cap Needed to Move Gold Just 3%<\/h2>\n<p class=\"p2\">Due to the economic \u201cuncertainty,\u201d gold for the first time in a long time, has shown some bullish sentiment and price movement as more investors to seek a hedge for their capital in the face of a global financial meltdown. It recently began its next bull market, which has caused many comparisons to its digital counterpart &#8211; Bitcoin &#8211; which has also recently started on another bull run.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Since this tweet<\/p>\n<p>Bitcoin: +$3,000 \/ +30%<\/p>\n<p>Spot gold: +$6 \/ +0.4% <a href=\"https:\/\/t.co\/lBDawNyh3K\" rel=\"nofollow\">https:\/\/t.co\/lBDawNyh3K<\/a><\/p>\n<p>&mdash; Crypto\u0e3full (@CryptoBull) <a href=\"https:\/\/twitter.com\/CryptoBull\/status\/22937600?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 26, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p2\">Since crypto pundit and staunch precious metal supporter <a href=\"https:\/\/wncen.com\/2019\/06\/21\/crypto-peter-schiff-gold-bitcoin\/\">Peter Schiff tweeted that gold had broke above resistance at $1,400<\/a>, Bitcoin has grown over 30% or $3,000. Gold on the other hand has only risen $6 or 0.4%. With such little growth rates, it\u2019s difficult to immediately see what the fuss is surrounding gold\u2019s bull run over Bitcoin.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/06\/06\/gold-skyrockets-as-bitcoin-price-plummets-which-wins-battle-for-economic-hedge\/\">Gold Skyrockets as Bitcoin Price Plummets, Which Wins Battle for Economic Hedge?\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p2\">Besides being a far more well-known asset used throughout history for a number of reasons, <a href=\"https:\/\/wncen.com\/2019\/05\/30\/flipping-gold-is-inevitable-in-digital-age-would-take-bitcoin-price-to-350000\/\">gold\u2019s market cap is also $7.5 trillion<\/a>, while Bitcoin\u2019s is over $225 billion. The discrepancy between the two is why financial analyst Arthur van Pelt says that the precious metal\u2019s bull run will \u201ceat Bitcoin alive.\u201d<\/p>\n<p>https:\/\/twitter.com\/MyLegacyKit\/status\/47917830<\/p>\n<p class=\"p2\">According to data shared by the Dragon Industries co-founder, it takes the entire value of Bitcoin\u2019s market cap &#8211; $225 billion &#8211; to move gold\u2019s price just 3%. So while Bitcoin\u2019s gains certainly provide larger returns for individual investors, gold\u2019s market cap is so massive, it will absorb far more wealth and capital than Bitcoin.<\/p>\n<h2 class=\"p2\">Are Crypto Investors Dumping Bitcoin Profits Into Gold?<\/h2>\n<p class=\"p2\">Although many do believe Bitcoin could eventually flip the precious metal, and reach a market cap of over $7.5 trillion, taking the price per BTC to $350,000 each, crypto investors are increasing their exposure to gold &#8211; and they\u2019re doing so with their Bitcoin profits.<\/p>\n<p>https:\/\/twitter.com\/coldhandscrypto\/status\/28244738?s=12<\/p>\n<p class=\"p2\">Data from <a href=\"http:\/\/goldsilver.com\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">goldsilver.com<\/a> shows that the amount of customers using \u201cBitPay to buy metals\u201d such as gold has increased steadily alongside Bitcoin price rising. Normal profit taking by Bitcoin investors may be spreading their capital across gold and other markets.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/06\/24\/following-gold-fractal-would-bring-bitcoin-price-to-ath-16k-is-coming-fast\/\">Following Gold Fractal Would Bring Bitcoin Price to ATH, $16K is Coming Fast<\/a><\/strong><\/em><\/p>\n<p class=\"p2\">Elsewhere in the crypto market the demand for gold can also be seen. <a href=\"https:\/\/www.etoro.com\/markets\/gold\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">eToro<\/a> has recently been promoting its spot contracts for the precious metal, and could even be seen calling out the \u201cDrop Gold\u201d campaign by Grayscale Investments.<\/p>\n<p>https:\/\/twitter.com\/barrysilbert\/status\/90273797<\/p>\n<p class=\"p2\">The demand for traditional assets from crypto investors shows they have become more sophisticated over the last bull market and are looking to reduce risk or try their hands at other markets.<\/p>\n<p class=\"p2\">Whether crypto investors felt the burn of the last bear market and are now looking to get out sooner, or are potentially diversifying portfolios in fear of another crash, it\u2019s clear that crypto investors are increasingly considering other markets like gold to bolster their profitability. With the precious metal starting up its bull run alongside Bitcoin and sharing many similarities with the digital asset, it\u2019s a <a href=\"https:\/\/wncen.com\/2019\/06\/24\/following-gold-fractal-would-bring-bitcoin-price-to-ath-16k-is-coming-fast\/\">logical choice for most crypto investors<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During times of economic distress, the shiny chemical element, commodity, and precious metal known as gold, is often looked to by investors seeking to place capital in a safe haven \u201chedge\u201d against falling fiat values, and in the face of uncertainty surrounding traditional markets such as real estate or the stock market. Bitcoin shares many similarities between it and gold, earning it the title of being its digital counterpart. In recent days and as global economy fears grow, both the precious metal and Bitcoin are beginning to show their values as a hedge in the face of a potential downturn. The two assets are each about to embark on their next bull runs. However, according to one financial analyst, gold\u2019s bull run will leave Bitcoin in its dust, and crypto investors may increasingly be reinvesting their crypto returns into gold. Analyst: Entire BTC Market Cap Needed to Move Gold Just 3% Due to the economic \u201cuncertainty,\u201d gold for the first time in a long time, has shown some bullish sentiment and price movement as more investors to seek a hedge for their capital in the face of a global financial meltdown. It recently began its next bull market, which has caused many comparisons to its digital counterpart &#8211; Bitcoin &#8211; which has also recently started on another bull run. Since this tweet Bitcoin: +$3,000 \/ +30% Spot gold: +$6 \/ +0.4% https:\/\/t.co\/lBDawNyh3K &mdash; Crypto\u0e3full (@CryptoBull) June 26, 2019 Since crypto pundit and staunch precious metal supporter Peter Schiff tweeted that gold had broke above resistance at $1,400, Bitcoin has grown over 30% or $3,000. Gold on the other hand has only risen $6 or 0.4%. With such little growth rates, it\u2019s difficult to immediately see what the fuss is surrounding gold\u2019s bull run over Bitcoin. Related Reading | Gold Skyrockets as Bitcoin Price Plummets, Which Wins Battle for Economic Hedge?\u00a0 Besides being a far more well-known asset used throughout history for a number of reasons, gold\u2019s market cap is also $7.5 trillion, while Bitcoin\u2019s is over $225 billion. The discrepancy between the two is why financial analyst Arthur van Pelt says that the precious metal\u2019s bull run will \u201ceat Bitcoin alive.\u201d https:\/\/twitter.com\/MyLegacyKit\/status\/47917830 According to data shared by the Dragon Industries co-founder, it takes the entire value of Bitcoin\u2019s market cap &#8211; $225 billion &#8211; to move gold\u2019s price just 3%. So while Bitcoin\u2019s gains certainly provide larger returns for individual investors, gold\u2019s market cap is so massive, it will absorb far more wealth and capital than Bitcoin. Are Crypto Investors Dumping Bitcoin Profits Into Gold? Although many do believe Bitcoin could eventually flip the precious metal, and reach a market cap of over $7.5 trillion, taking the price per BTC to $350,000 each, crypto investors are increasing their exposure to gold &#8211; and they\u2019re doing so with their Bitcoin profits. https:\/\/twitter.com\/coldhandscrypto\/status\/28244738?s=12 Data from goldsilver.com shows that the amount of customers using \u201cBitPay to buy metals\u201d such as gold has increased steadily alongside Bitcoin price rising. Normal profit taking by Bitcoin investors may be spreading their capital across gold and other markets. Related Reading | Following Gold Fractal Would Bring Bitcoin Price to ATH, $16K is Coming Fast Elsewhere in the crypto market the demand for gold can also be seen. eToro has recently been promoting its spot contracts for the precious metal, and could even be seen calling out the \u201cDrop Gold\u201d campaign by Grayscale Investments. https:\/\/twitter.com\/barrysilbert\/status\/90273797 The demand for traditional assets from crypto investors shows they have become more sophisticated over the last bull market and are looking to reduce risk or try their hands at other markets. Whether crypto investors felt the burn of the last bear market and are now looking to get out sooner, or are potentially diversifying portfolios in fear of another crash, it\u2019s clear that crypto investors are increasingly considering other markets like gold to bolster their profitability. With the precious metal starting up its bull run alongside Bitcoin and sharing many similarities with the digital asset, it\u2019s a logical choice for most crypto investors.<\/p>\n","protected":false},"author":517,"featured_media":387682,"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":[428,965,6664,45553,2209],"class_list":["post-387674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitpay","tag-crypto","tag-economic-hedge","tag-gold"],"acf":[],"yoast_head":"\n<title>Analyst: Gold Bull Run to Eat Bitcoin Alive, Takes Entire BTC Cap to Move Price 3%<\/title>\n<meta name=\"description\" content=\"A financial markets analyst says that it would take the entire market cap of Bitcoin to move gold just 3% and that its bull run will eat Bitcoin alive.\" \/>\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\/gold-bull-run-bitcoin-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst: Gold Bull Run to Eat Bitcoin Alive, Takes Entire BTC Cap to Move Price 3%\" \/>\n<meta property=\"og:description\" content=\"A financial markets analyst says that it would take the entire market cap of Bitcoin to move gold just 3% and that its bull run will eat Bitcoin alive.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/gold-bull-run-bitcoin-btc\/\" \/>\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=\"2019-06-27T01:00:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-28T15:56:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/bitcoin-gold-crypto-shutterstock_1034952964.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5616\" \/>\n\t<meta property=\"og:image:height\" content=\"3744\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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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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. 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