Today, the statistical comparison of gold and bitcoin has become one of the important topics of financial markets. This question may be on your mind, should we buy Bitcoin or gold? In this article, we are going to explain the comparison between Bitcoin and gold to you completely, so stay tuned. Many people think of Bitcoin as money and others think of it as a commodity, but that doesn’t matter because as long as Bitcoin can be used to buy a product or service, Bitcoin is considered an asset.
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History of Gold and Bitcoin
Gold is several thousand years old and has been used as a reliable means of exchange since ancient times, while only 13 years have passed since the creation of Bitcoin. Today, gold is used in business, industry, medicine, etc. With the price growth and increasing popularity of Bitcoin, investors and digital currency market enthusiasts have given Bitcoin the title of digital gold and believe that Bitcoin can be a suitable alternative to gold in the not too distant future.
Statistical comparison of gold and bitcoin
Bitcoin and gold have similarities and differences, which we will mention below:
Bitcoin, like gold, is a limited asset and will expire at some point. Both are valuable and widely used and require energy and time to extract. The creators of Bitcoin have only made 21 million of this asset available to people for mining.
Ability to move
One of the things that is very important in the statistical comparison of gold and bitcoin is portability. Transferring physical assets like gold can be time-consuming. Also, the transfer of gold requires many security measures, which increases the cost. While users of digital currencies can trade at any time and place by accessing a computer system or mobile phone and transfer a large amount of bitcoins in the shortest possible time.
Centralized or decentralized
Another issue that has a direct impact on the statistical comparison of gold and bitcoin is the decentralization or lack of assets. Bitcoin, like many other digital currencies (Ethereum, Akita, Phantom, etc.), has the ability to be decentralized. This means that this digital currency is not controlled by any organization and even its production is not done by any person, which is different in gold. Unlike Bitcoin, gold is a centralized asset that is controlled by governments or special organizations.
The property of divisibility
Some assets have the ability to be divided into smaller components, which is called divisibility. You need to know that both gold and bitcoin have this important feature, but it is not possible to buy or sell the smallest unit of gold, i.e. 1 milligram, while one bitcoin is divided into 100,000,000 satoshis.
You may think that high fees are not a big deal, and you are absolutely right. But for those who are constantly trading in the financial markets, transaction fees and orders become heavy expenses over time. As we mentioned, Bitcoin and many digital currencies are decentralized and have no connection with the government and organizations, and this issue has a direct impact on reducing fees.
Meanwhile, gold has heavy fees due to its concentration. The wages of goldsmiths and money changers are clear examples of high gold fees.
Making or forging gold
As you know, Bitcoin is a digital currency that is advanced programming and cryptography that makes it impossible to forge or create. Meanwhile, you may have come across fake money or fake gold in the market.
Invest in gold or bitcoin
Bitcoin technical analysis chart:
In recent years, the price of gold has grown significantly, which has satisfied many users. But still, many users and economic analysts believe that investing in digital currencies like Bitcoin is better than gold, because digital currencies have gained a lot of popularity in a short period of time. There are also many ways to earn digital currencies. Earning through playing games and airdrops are among the free ways to earn money from digital currencies.
According to the research conducted, the number of investors on digital currencies is increasing minute by minute, and the interesting point in this section is that analysts believe that the price of digital currencies will increase in the future. This issue depends on different things in each digital currency. For example, every 4 years at a specific time called Bitcoin Halloween, the price of Bitcoin multiplies, or the digital currency Dogecoin had a significant price growth after Elon Musk’s support.
In fact, it is true that inflation has no effect on digital currencies, but simple events can directly affect their price trends.
Note: Experience has shown that investing in gold is less risky at any time and in any type of investment market. The price of gold usually has an upward trend due to the limited resources and the age of several thousand years, and as a long-term investment, it brings favorable results.
18 carat gold technical analysis chart:
Statistical comparison of gold and bitcoin + which one is better?
Many economic analysts believe that Bitcoin is currently 10 times better than gold, because it has become very popular in a short time and has been enthusiastically received by the people. As mentioned, the number of Bitcoin traders increases every minute. According to the research done, every minute about 10 user accounts are added to the accounts of Bitcoin holders.
You should also know that many traders and analysts of digital currency markets have predicted that the price of Bitcoin will increase in the future. These people believe that the real trade right now is to buy and hold because a Bitcoin price rally is imminent.
Now, for the statistical comparison of gold and bitcoin, you know all the advantages and disadvantages of both. You should keep in mind that Bitcoin is trying to meet the same store of value criteria as gold. Also, increasing the price of Bitcoin takes time because Bitcoin needs to become widespread and fulfill several conditions. Of course, Bitcoin developers intend to influence its upward trend by solving the problems of the Bitcoin blockchain network, creating new forks and improving its applications.
Therefore, for the statistical comparison of gold and bitcoin, everything will depend on you. If you are looking for a low-risk and long-term investment, we recommend the gold market, but if you are looking for large profits in the short term, it is better to invest in the digital currency market. do.