Boris Schlossberg: the gold was taken from the title of the Bitcoin safe asset

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2018-04-16 14:30:05

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Boris Schlossberg: the gold was taken from the title of the Bitcoin safe asset

In the first half of March, the staff of the Knight Frank report, entitled the Wealth Report 2018. According to them, over the past year, interest in the cryptocurrency as an investment instrument has increased by 16 percent, whereas the result of the gold amounted to 15 percent. Now the situation has reversed — as evidenced by Boris Schlossberg.

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Bitcoin or gold. Version investor

Managing Director of strategy in the currency markets investment company BK Asset Management shared the opinion on air of CNBC. His words are quoted .

In this period Schlossberg puts on gold. The reason is a significant loss of Bitcoin.

Gold Bitcoin robs the title of a key asset, as the Bitcoin lost too much over the past two months.

To Make such a conclusion allowed the rate changes in gold. The lower threshold value are 42,68 thousands of dollars per kilogram metal. The peak was on 11 April when the price increased to 43.77 thousands of dollars. For this market, such changes are significant.

Browser portal Market Mogul John Howe notes that the current situation with Bitcoin is reminiscent of the decline in the consumer confidence in gold.

Gold was the main currency, and all payments were guaranteed gold. However, at some point it became clear that gold has become too unwieldy in order to maintain the momentum of development of capitalism. The supply of gold grew more slowly than the world economy. This has led to a reduction in the quantity of money relative to the growing number of transactions. Led to this reduction of liquidity and the refusal of the revaluation of gold led to a deflationary consequences.

The experts predict the growth rate of the cryptocurrency in the next week. Hopefully, long-term correction came to an end.

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