Bitcoin will soon easily exceed the capitalization of the gold but you need several conditions
A similar opinion was voiced cryptocurrency analyst Willie Woo, reports portal MyCrypter
A bear market is forcing many supporters of bitcoin to take a punch and to preserve the dignity of citing new arguments in favor of the home currency.
However, most often protection of bitcoin results in a dull story about “the coming of institutional investors.” Interesting and unexpected advanced version of that is Willie Wu, who said that BTC will surpass gold in terms of capitalization.
Supporters of bitcoin in recent years have increasingly speak in favor of the conversion of cryptocurrencies in the way of accumulation, transformation into a form of “digital gold”. The closest definition was given by analyst Max Keiser, who called bitcoin “peer-to-peer of e-gold system.”
Willie Woo drew attention to the article about the asteroid Psyche 16 consisting of metals, including gold, which cost 700 quintillion dollars (92 billion dollars for each inhabitant of the Earth). The first expedition to the asteroid, located between Mars and Jupiter, NASA plans to launch by 2022.
Commercial “gold rush” may devalue the gold market and need a new tool, performing the role of custodian of the values. Bitcoin can easily replace the gold, thanks to such advantages as compactness, easy way to transport and store.
Previously, we reported that the PTS will fall in price by another 30%. Bitcoin could Grand to drop in price, if he will not be able to stay in their current price range. A similar opinion was voiced cryptocurrency technical analyst DonAlt on Twitter.
Despite the fact that the decline of the pair BTC-USD has failed to lead to testing the year’s lows, and the correction has begun, many experts are of the opinion that bitcoin is still in the grip of bears.