Forbes Highlights One Simple Bitcoin Chart Explaining Why BTC Is Gaining Ground As Digital Gold
Forbes: Bitcoin Is The New Gold, $10,000 In 2019 Is Not Impossible
We all know that Bitcoin is great. Unfortunately, most of the world does not seem to share this particular point of view. Now, however, it seems that the situation is slowly changing for the better. If you want proof of this, you should know that even Forbes, a mainstream media outlet, is starting to bet on Bitcoin.
With a new article, a Forbes author, Clem Chambers, has affirmed that the crypto winter is finished and that Bitcoin is slowly but steadily rising again and that the token has the potential to be the new digital gold.
The author points out that gold has remained the best way to store value for years. However, Bitcoin is finally being able to crack gold’s dominance and it may be the only asset which will ever actually be able to do it in an effective manner because of its unique characteristics.
Bitcoin interest, for instance, has skyrocketed from almost nothing to a lot recently. People are finally starting to believe that Bitcoin is something real and that can help them in their lives. BTC is finally more than a buzzword and its popularity is global.
Countries that range from Nigeria to Switzerland are all adopting the new tokens and BTC is slowly getting as popular as gold.
At the moment, the market cap of gold and Bitcoin is very different. Gold is worth $5 trillion USD while BTC is “only” worth $90 billion USD. However, it should be noted that gold is ancient when compared to Bitcoin, which is only around for ten years. This explains most of the difference in the market cap and why BTC only has less than 2% of gold’s market cap.
The End Of The Crypto Winter
The article finished by affirming that the cryptocurrency bear market, the so-called crypto winter, is officially dead. Since the prices of BTC went up at the beginning of April, everybody is confident that the asset will start a new bull run soon.
While it may be too early to expect prices to be similar to the ones we saw in 2017, Chambers sees the $6,000 USD range as an easy mark and $10,000 USD as something that is completely possible this year.