September 26, 2021. Sunday.
Before crypto ever comes to existence you have the traditional markets to look for like stocks, forex, etc... With the arrival of crypto for the past 10 years a generation shifts away from the traditional market. The stocks market shrink regarding to the way it uses to operate before the age of the internet. Having crypto in par with all of the markets, many folks originally from Forex and stocks jump head first to crypto.
Before I go further, I like to read about gold news. One of the place I go is this site. https://www.kitco.com/. There you will find news about all precious metals included gold. There is an article in there about gold reaching $3000/oz. The part of the interview that catch my eyes is the fact cryptocurrency finds way to get involved with gold. Right now gold is trading at $1744/oz. No need to think crypto will match gold these days.
The problem is the speed crypto is coming. Before you know it, crypto will pass gold and it will cause a phenomenon for both parties. Whenever you see gold, away from the validity it brings, it is an asset class with no need for presentation. Gold remains a metal, hard to carry around, hard to provide quick liquidity on the market. If BTC can reach $100k this year, I think gold can reach $3k as well.
One little problem I do not see a momentum from gold since 2020.That was the last time gold was trading at $2000/oz. Gold is not that deflationary as people think it is. Yes it is hard to mine but there are mine all over the world. Every time gold validator put #BTC on the spot, they tend to forget only 21 million BTC will ever exist. I love gold for what it is. But when you have crypto in charge growing at the pace it is going, gold will do its best, but this time belongs only to crypto where technology reigns these days.
Crypto will not eliminate Gold. Crypto will use Gold money to grow and take its place in the world of finance. It is the speed aspect that make crypto relevant. September could be shaky but the end result sits with time to come. The millennials are diversifying big time. Crypto is the first asset in their portfolio. Next month BTC ETF could change the landscape for everyone.
This is it. Make this yours, keep vesting in yourself.
@romeskie is a full-time stay-at-home mom to a homeschooling toddler. Loves crocheting as a hobby. Maintains a mini food forest, aiming to grow more to achieve that farm-to-table homesteading. Learned how to cook after leaving the corporate world to take care of her family and is now starting to acquire basic baking skills. Learn more about her adventures and misadventures in the world of motherhood.