It has been more than 5K years since we have seen Gold among the most acceptable and precious metals globally. During tough times, metal has always helped people sustain themselves for an extended period. It can have some good returns compared to other options that remain risky at times. 2021 was an excellent year for people to use Gold for their sustenance as Covid has emerged as an enemy to the country’s economy. However, this year we have seen this metal losing its sheen in the market to become a risky asset. All thanks to the crisis due to the Covid times. At this juncture, the following alternative that came to people’s minds was Cryptocurrency. They found that these coins are good in giving higher returns when compared to Gold. It has further allowed many investors to jump into the market and play an important role in catering to digital coins. Thus, we see these investors calling Bitcoin virtual gold in the market. They are predicting something good for them. Let’s check how Gold vs. Cryptocurrency has come to a trend while in detail checking at sites like The News Spy.
Is the Yellow Metal Losing its gleam? Gold Vs. Cryptocurrency –
The holy grails recommend investing in the said precious metal as they call it as a secured haven for investment. In India, it can cost around 56K INR for 10 grams and then it comes down to 47K INR and so on. One of the firms dealing with such values sees the company’s highs and lows of the metal. They have been calling it a lucrative option for a while, but in the long run, it comes with confusion; in the US, it’s entirely different. The metal witnessed only 1 per cent of growth in the market, reaching around 1830 USD in the recent past. As we see India be the hub for the gold market, more and more investors are now thinking of digital currency for their investment options. So far, we have seen the investment in India in digital currency is around 200 M USD. Earlier it was 40 M in 2020, and the very next year, it came to 200 M USD. You can make out the difference.
One of the critical reasons why Gold is moving out and digital currencies coming inside the US market is that there is an apprehension growing against this metal in a big way. However, this seems to have changed in a big way in recent times as we have a sizable number of people still attached to this metal. They are going ahead with Bitcoin. Recently, the demand for Gold has gone down as people have found other options like virtual coins in a big way. So regardless of the thumb rule that comes with the demand and supply, we see the two grossly misleading and turning low. Earlier, we saw many more precious metals coming into action. Earlier, crude oil remained the option to invest, and then came Gold and now Bitcoin and other coins.
The Digital Coins Proposition
Lately, we have seen coins like BTCs gaining good popularity in the market. These have remained the best-valued asset for investment for many people. According to market research experts, these remain a hedge against your traditional money due to their devaluation. However, we still see some amount of confusion regarding digital coins from the perspective of the land law. It is still debated in the house for nations like India, and the coin is supposed to get some support from the government and its central bank called RBI. Many feel that coins have given better returns compared with assets like Gold. However, ignore the risks like volatility. We have seen Gold giving a stable return against the speculations, unlike digital coins like BTC or ETH. Thus investment in Gold or digital coins can have different opinions, and it could vary from one person to another. If you intend to invest in digital coins, you are most welcome and similar is the story of Gold.