Bitcoin Hits $18,000 as It heads to Record Highs, is it a Safe Haven investment?

Updated: Nov 19, 2020


Digital Gold.


Bitcoin is quickly approaching the record highs that spurred a craze among investors almost three years ago.

“This Bitcoin thing is crazy,” said Matt Maley, chief market strategist at Miller Tabak + Co. “This is the third parabolic move. God only knows where it’s going to top out.”


Bitcoin will replace gold as the ultimate financial safe haven within a generation, according to Nigel Green, the CEO of one of the world’s leading independent financial advisory and fintech organisations.


His prediction comes as growing geopolitical uncertainty, including Brexit and the U.S. presidential election, and central banks’ historic money printing policies, amongst other issues, are prompting many investors to urgently rebalance their portfolios.

“For thousands of years, gold has been the ultimate financial safe haven,” said the chief executive and founder of deVere Group.

“It’s always been the go-to asset in times of political, social and economic uncertainty as it is expected to retain its value or even grow in value when other assets fall, therefore enabling investors to reduce their exposure to losses.

Green said that going forward, older investors are likely to continue with gold, but millennials and Generation Z, who are so-called ‘digital natives’, can be expected to go for Bitcoin and other digital currencies instead.

“I believe that the precious metal will lose its crown as the most sought-after reserve asset to Bitcoin within a generation – particularly because the biggest-ever generational transfer of wealth – likely to be more than $60 trln – from baby boomers to millennials is already underway.”




Opinion.


The emergence of Crypto currencies, especially with the introduction of Bitcoin brings many opinions across the globe. Mainly fear, doubt, excitement, and curiosity.

I do not want to go into the continued debate surrounding them, with reference to exchanges, no central authority or middlemen, fraud, and money laundering etc. This debate will go on for a long time. However, the facts are that the technology, Block Chain is here to stay and so are some of the established currencies and therefore many CFD brokerages will offer them to trade or buy as an asset.



https://www.insiderkk.com/post/bitcoin-surge-widens-crypto-s-lead-over-gold-as-top-asset-of-2020

Trading?

https://www.insiderkk.com/post/crypto-currency-trading-worth-a-punt

Buying?

https://www.coinmama.com/?cxd=63194_605330&affid=63194


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