Wednesday, November 25, 2020

Tag: Millennials Can Punt On Bitcoin

Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term

1

by Mark O’Byrne, Gold Core:
– Bitcoin volatility shows not currency or safe haven but speculation
– Volatility still very high in bitcoin and crypto currencies (see charts)
– Bitcoin fell 25{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} over weekend; Recent high of $3,000 fell to below $1,900
– Bitcoin least volatile of cryptos, around 75{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} annualised volatility
– Gold much more stable at just 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} annualised volatility
– Bitcoin volatility against USD about 5-7 times vol of traditional forex trading
– Cryptos remain subject to huge speculation with little fundamental analysis
– Despite major differences many crypto currencies correlated, mimic one another
– Extreme hype – bitcoin expert bets will eat own body part on national television
– Millennials can punt on bitcoin, should also own gold and silver for long term
– Cryptos mere ‘babies’ when compared to time tested gold and silver