Last week when crypto market dropped like fly one short minded post on twitter that the gold value remains strong despite crypto debacle. I think it was an easy shot at crypto in the worst time of the day. One thing I know for sure. Even though Terra was dropping you can still sell it and get something out of it quick while gold demands another reflection for selling.
Actually watching and understanding precious metals trading is another world miles away of what crypto stands for. It is two universe far away.
They only connected due to financial burden.
The faith people have in gold is not dated today. It is one metal that outshines many for century.
Lately gold has lost its safe heaven to other financial investment. Gold price since the inflation of last year still remains to be envied.
By now Gold should be in $5000/oz range to combat inflation. This is not the case. It is a clear example to see the competition is real. Gold will forever remain what it stands for. There is no doubt about that.
As you grow your portfolio precious metals should be an addition to preserve wealth. Either you do it live or via trade. You can even get gold via crypto itself. Lately Gold does one thing best, follow the stock market. Gold is a vehicle that being used by traders to short the market. Since gold is tradable, there is the momentum to keep it at bay. Quick money finds a hub to play around. You need millions to play the short game. This is why you see good news about mining and then bad news. The trade is made mostly into the future markets. Moving the gold market where they want it to be. Keep asking myself when will it reach that $5k?
At the same time Gold is not going anywhere. You do not have to worry about it going to zero. Some will never sold their gold stack. I think this is the same mindset for crypto holders. They will hold till the end. Gold is all about having a big pile and tell the world I have a back up. It may not worth much in moment of despair but it is there for the obvious reason.
Having Gold in the conversation demonstrates there is more than gold out there. You put your faith in Gold you have your reason. Time is moving fast and Gold will hold its ground. Digitally Gold could preoccupy a notion in the financial world. Truly crypto deserves its place where it is back by the ability for you and I to share a common bond, the blockchain.
In the age of technology we need gold for better conduit while crypto will be the ultimate vehicle to transact your gold.
It is commendable to appreciate gold value while giving yourself a boost where crypto is borderless.
Keep vesting.
Posted Using LeoFinance Beta
