{"id":432628,"date":"2020-07-30T01:00:47","date_gmt":"2020-07-30T01:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=432628"},"modified":"2020-07-29T20:39:06","modified_gmt":"2020-07-29T20:39:06","slug":"gold-rally-bitcoin-precious-metals-btc","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/gold-rally-bitcoin-precious-metals-btc\/","title":{"rendered":"Gold Rally Peaks: 5 Reasons Bitcoin Will Likely Outperform The Precious Metal"},"content":{"rendered":"

Ahead of the United States’ second round of economic stimulus, gold and Bitcoin exploded as the dollar fell<\/a>. According to financial analysts, after setting a new record the gold rally may be peaking, leaving room for the cryptocurrency market to catch up to precious metals.<\/p>\n

Here are five important factors why Bitcoin will outperform gold in the long haul and how that may extend into altcoins.<\/p>\n

Mad Money’s Jim Cramer Says Charts Call For Gold Rally Peak<\/h2>\n

Only a mere few weeks ago, NewsBTC published a story about Bitcoin and gold trading neck and neck<\/a> in terms of two-year performance. However, the gold rally has since picked up even more bullish momentum, and the asset exploded to a new all-time high<\/a>.<\/p>\n

The rally helped the precious metal beat out Bitcoin in terms of overall performance, but gold may soon be peaking, according to several industry analysts.<\/p>\n

Related Reading | BTCUSD and XAUUSD Neck and Neck In Two-Year Safe Haven Arms Race<\/a><\/strong><\/em><\/p>\n

Mad Money’s Jim Cramer<\/a> says that precious metal price charts are “very precarious.” Market strategist and published author Carley Garner<\/a> told the CNBC host that silver and gold could have “one last leg up,” Cramer explained. She added that another leg up could even be “substantial” but that the rare metals would “come plummeting back to earth.”<\/p>\n

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Gold (XAUUSD) Versus Bitcoin (BTCUSD) Comparison | Source: TradingView<\/a><\/pre>\n
The assets pulled directly from that earth, have a limited supply that makes them a hedge against inflation<\/a> and investment of choice during economic distress.<\/p>\n
Cryptocurrencies like Bitcoin were designed with certain attributes found in precious metals in mind. It is for this reason that the first-ever cryptocurrency is often referred to as digital gold<\/a>.<\/p>\n
But while XAUUSD price charts suggest a peak is coming, Bitcoin is suddenly spiking, suggesting that profit-taking in precious metals could be flowing into crypto.<\/p>\n
Bitcoin offers several attributes beyond what metals provide, which could act as a catalyst for overperformance in the cryptocurrency market compared to gold and silver in the days to come.<\/p>\n
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In the long-run, gold\u2019s entire market capitalization beyond its industrial demand is latent market cap for #Bitcoin<\/a> which is superior across all properties of money: divisibility, durability, portability, recognizability, and scarcity.<\/p>\n
— Robert \u20bfreedlove (@Breedlove22) July 28, 2020<\/a><\/p><\/blockquote>\n