But, on the other hand, the one that has taken the worst part of all is fiat money, which is going through great problems due to the indiscriminate injection of billions of dollars by central banks, in their plans to reduce the negative effects of the pandemic.
Bitcoin and the oro the clear winners or not?
On the other side we have Bitcoin and gold, which have experienced a few strong months for both gold and the first cryptocurrency of the world.
The leading cryptocurrency has increased more than 150% in price since its low in March, in the same month in which the Coronavirus was announced as a Pandemic and panic began to be felt in all markets.
However, according to a leading investor in the traditional world, and a staunch defender of gold, Peter Schiff, expressed that: “Bitcoin will be nowhere near reaching its all-time high of $ 20,000 again this year. But instead, gold will continue to get stronger and stronger more and more. ”
Bitcoin is not the “fastest horse”
As we expressed previously, Max Keiser 60-year-old eminent economist, stock market operator on Wall Street, and for years broadcasting a financial program on different television channels, had predicted that for every dollar that gold increased in price, Bitcoin would increase from 20 to 30 dollars, which that would make the world’s first cryptocurrency the “Fastest Horse”.
But according to Peter Schiff, the fastest horse is gold, this due to what appears to be a combination of purchases of gold by Central Banks, and monetary policies that have come to print billions of dollars. As a result, the price of gold is approaching its all-time high against the dollar.
“Digital gold, ´Bitcoin´, unfortunately may not share the fate of gold,” he said. Peter Schiff.
The famed investor said that Bitcoin (BTC) will not be “the fastest horse, at least for now.”
Peter Schiff He revealed that he is very sorry for not buying BTC 8 years ago, when the world’s first cryptocurrency only cost a few dollars.
But, unlike what we may think, Peter is not an enemy of Bitcoin. He only makes these remarks because he doesn’t want the inhabitants of the cryptocurrency world to get their hopes up in the midst of these tough times, and may spark widespread panic in the Bitcoin market that ends up sinking the price even further.
“I’m just talking about how the trend for gold to be the fastest horse can last until the end of the year. I was wrong not to buy BTC 8 years ago. But BTC will probably exceed its all-time high of $ 20k perhaps by 2021. “
Different opinions, but Bitcoin as a central point
We are witnessing how there are very different opinions regarding the future of the price of the world’s first cryptocurrency, some accuse that it could decrease, others maintain, and others that it will increase exponentially.
But, fewer and fewer are saying that Bitcoin is not important, or that it will die, in the near future. Instead, the number of users of cryptocurrencies continues to increase at a sustained rate.
Regardless of whether they are ordinary people, large investors, important institutions, many people are joining the chorus of voices that see Bitcoin as an interesting alternative to defend themselves from the possible economic crisis resulting from the impact of the coronavirus. Only time will tell.
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