Quote:
Originally Posted by ulfilias
I had a quick look at this and I got a very biased feeling towards it. Everything is terrible so buy MY THING....
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I do see what you mean. And I agree that gold isn't necessarily a good bet. At least in the short run. It depends on what the central banks will do. Not to mention, what will The Bank for International Settlements (BIS) do?
On the other hand, gold looks good. Why? Well Russia and China have been buying. And now China will offer to pay oil with yuan, which can be traded for gold on the Shanghai exchange.
As for crypto currencies. The past months really hammered it home, that bitcoin is the foundation. The others dropped as well when bitcoin took a dive. Which I find curious.
This doesn't happen in the currency market. When pound lost value, others didn't dive alongside.
NOK (Norwegian krone) lost more than 20% as well earlier. But SEK didn't take a dive. So they were equal around New Year. (Very bad for me
)
So why are the crypto coins so interrelated? It doesn't make sense to me.
If I had made a guess before this happened. I would have guessed ethereum would increase in value compared to bitcoin. Never would I have guessed it would crash as well.
So I have learned something I didn't know about crypto.
I can't compare bitcoin to the US dollar either, when the crypto coin market behaves this way.
edit: This market behaves, like I would expect the STOCK market to behave