Bitcoin had a great performance for the last decade. In fact, it showed better ROI (Return of Investment) among all other commodities and securities. As Wallebi reported previously, many experts compare Bitcoin with gold. They even call Bitcoin as digital gold. Although many times happened that Bitcoin showed the same performance as gold, they are separate and different from each other. Obviously, it could perform much better than gold for the past decade. Recently, Goldman Sachs commented about Gold price in order to predict the future Bitcoin price. In fact, they provide a comparison between Gold and Bitcoin.
Gold and Bitcoin; gold will hit $2,300 in 2020
As reported by Wallebi, US dollar could not show a good performance over the last few years. As a result, a lot of people gave up on US dollar and attracted to invest in gold or Bitcoin. The result was a significant rise in price.
Goldman Sachs, the major investment banking company, announced that the price of gold will increase by 20% by the end of next two years. It means that gold price will hit $2,300 by the end of 2022.
Gold could record a high on July 31 and its price raised over $2000 per ounce. Goldman believes it was just a start and gold will hit higher prices.
Statistics from Bloomberg show that banks believe the price of gold will hit $2,300 in the next 12 months.
Goldman Sach’s analysts believe that two reasons affected the commodities price. The first is the capability of US dollar to remain as reserved currency and second is “record level of debt accumulation”.
What about BTC?
AS we mentioned above, the statistics show that US dollar is losing its position as a safe and secure reserve currency. As a result, people attracted to other investment option such as Gold or other precious metals. Among all of those options Bitcoin stands a way. Bitcoin performed much better than any other commodities and securities. As Cointelegraph reported Bitcoin could play a significant role to fight with inflation.