Bitcoin surpassed gold showing high profitability in 2020

Bitcoin's profitability has surpassed gold this year.The precious metal has risen in value by 12% since January.The price tag of bitcoin for the same period increased by about 30%.

According to TradingView specialists, the volatility of the main coin was significantly greater, which affected the risks of buying a cryptocurrency.

Bitcoin vs Gold

In the first quarter of this year, a strongthe difference in the US stock market. After the indices began to lose ground, bitcoin entered the bull market, but the positive trend did not last long. Already in mid-March, the main coin was expected by the so-called "price halving."

After Bitcoin fell by about40%, investors began to withdraw assets from it, but a few days later a new influx of investments began. Because of this, many crypto exchanges have encountered problems in processing transactions.

Gold was trading relativelystatic. The precious metals market almost did not respond to the stock market drawdown. Even problems with oil, which temporarily went into a negative plane, did not affect gold. An increase in value of about 12% can be compared with a decrease in the price tag of the dollar, which is happening systematically.

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According to experts, assets such as goldgradually lose popularity with traders, as they cease to be profitable in the short term. In addition, gold is used less and less at auction, which also gives bictoins a chance to bypass the precious metal in all endeavors.

Today, bitcoin is trading at around9.6 thousand dollars. An ounce of gold is held at 1.7 thousand dollars. Experts note that the cryptocurrency market now looks much more stable than the stock market.

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“Even in an economic crisis, bitcoinhas the status of one of the best assets to invest. When the world begins to gradually come out of the current situation, the cryptocurrency market will retain superiority in certain industries. Other assets will be forced to earn credibility again. ”“Said Morgan Creek co-founder Anthony Pompliano.

Gold is up 12% year-to-date and Bitcoin is up 25% in the same time period.

I won’t hold my breath for the media to write articles stating «Bitcoin proving to be the best safe haven asset in the economic crisis.»

But even their silence can’t change the truth ?

- Pomp? (@APompliano) May 13, 2020

Financier Peter Schiff noted that Bitcoin does notfuture as a competitor for gold. According to him, the safest asset is precisely the precious metal, which has minimal volatility indicators. Schiff said that gold can go up to new highs this year.

Over the past several years bitcoin hodlers pokedfun at gold investors because #Bitcoin gained so much more than #gold. Over the next several years those roles will reverse, but not because gold rises more than Bitcoin, but because gold moons as Bitcoin crashes back to earth.

- Peter Schiff (@PeterSchiff) April 11, 2020

Bitcoin, recently survived the third in historyhalving, while holding relatively stable. Since the reduction in the reward of miners, amid falling inflation, the coin has risen in price by $ 600. Analysts forecast a Bitcoin rally to $ 15,000 in June.

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