The halving we've all been waiting for finally happened in May 2020. On the one hand, cutting the block reward led to a lot of miners leaving the network. On the other hand, Bitcoin's inflation rate was reduced by another 50%. In this context, everyone is still waiting for a new price rally that should propel Bitcoin to at least $15,000.
We do believe that BTC will eventually be worth $15,000 and even $20,000 – the question is when. It's been 2.5 years since the last peak, and the more time passes, the more disillusioned some of the investors become. People are tired of waiting.
What about gold? Late May brought a widespread lifting of the lockdown measures, especially in Europe. In the US, too, the 'stay at home' orders are being lifted and President Trump is promising to open up the country again.
The US stock market is rallying again: NASDAQ has reached a new all-time high in the first week of June. As could be expected, gold pulled back 3-4% from its May highs.
But are things really going so well in the world – and in the US in particular? The coronacrisis is now exacerbated by the mass protests, which are causing huge losses to businesses. The population is clearly losing its trust in the official authorities on all levels. The current rally is yet another feast during a plague, just like the one we witnessed in February. It was followed by a massive slump, which was stopped only by printing enormous amounts of money.
What will happen if there's another collapse? A new injection of money won't help: you can't reopen a restaurant that's already closed. The government will keep printing money, however, and this will help gold cross the $2000 mark. It will be even easier to do now that the gold prices are much higher than they were back in February.
So what's better: buy Bitcoin hoping for $15,000 – or GOLD tokens in the expectation that gold will reach $2,000? We don't know the answer, but one thing is clear: sooner or later, both of these events will happen. Bitcoin's key advantage that it could also happen tomorrow. Its key disadvantage is the same: the BTC price can fall by 25% or 50% just as abruptly. The main advantage of the GOLD token is that its price can't suddenly slump, especially in the current bull market. Similarly, its only flaw is that you can't expect the GOLD price to grow to $2000 in a couple of days.
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