Over the past few years, Bitcoin has often been compared to gold, as both forms of wealth allegedly rely on scarcity to make them inherently valuable. Additionally, both Bitcoin and gold are generated through a process called “mining”, albeit both currencies take a different approach to completing this process. Now that the gold price keeps plummeting, that comparison to Bitcoin seems no longer valid, as the digital currency has been relatively stable all year.
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Six-Year Price Low For Gold Is In Sight
Even though the price per ounce of gold is still well above US$1,000, there seems to be less and less interest from investors to acquire the precious metal. In fact,