Gold vs. Bitcoin: Seven Days of Corrections

Crazy Week…Thanks ardy:thebolg for the post

ardy:theblog

What an insane 7 days in the world of alternative investments!

First it started with the inevitable deflation of bitcoin prices from their unsustainable rise to $260 to about $50 in just over 24 hours. This prompted a huge ‘i told you so’ rant all over the media with everyone bashing bitcoins without even knowing what they are in most cases. It did, however, provide bitcoins with massive media exposure just enough to gain the attention of Bloomberg and CNBC; mission accomplished. I actually heard an anchor this morning report the spot price of bitcoins on Bloomberg radio quickly followed by a story on why gold fell so hard.

Now about gold. Just 4 days ago, in the midst of the media frenzy about the collapse of bitcoin prices, gold takes a nose dive from it’s lackluster levels stuck around $1550 to an eye-opening $100 drop to $1450 territory, then…

View original post 135 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s