Time: January 2018, 1 Author: Gu Fan Location: Melbourne, Australia
Yesterday Financial Review have a tiled ”Bitcoin investors cash in their chips and buy gold"
Bullion dealer Sharps Pixley, a subsidiary of Europe's largest precious metal coin and bar outlet, regularly sees trades north of a million pounds, while sales of gold coins at Frankfurt-based CoinInvest jumped fivefold as the largest digital asset collapsed after surging 1,400 percent last year, according to Director Daniel Marburger.
"Yesterday was a hell of a crazy day," he said from Frankfurt. "Emails and phones did not stand still with customers asking how they could turn their crypto into gold."
Bitcoin fell below $10,000 in trading on Thursday and then bounced to be around $11,000 in afternoon trade, still way down from its peak over $18,000 a few months ago.
Bitcoin is down about 40 percent.
Lack of demand hasn't proved much of a headwind to gold prices in recent weeks. The yellow metal, supported by a falling dollar, rallied 7.5 percent in the past month to a four-month high before tempering gains.
The financial market is coming back to real thing that traditional investment product. That is our point that is world always run as regional rule. If you want to change it contrary to the natural regular as final it will be failed.
A store of value character should go into and out when investors need cash. It can be exchange in investors. The equity are gold, silver, gemstone and jewelry because it easy to carry and trade as well as limited quantity.