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Golden Observation 丨 Surpassing all macro assets, Bitcoin is "quietly engulfing the financial world"



Golden Finance Blockchain News October 6 Although gold is the investment target with the highest return rate in the past decade, Bitcoin still outperforms gold in 2020. Data shows that despite gold's popularity in 2020, Bitcoin still surpasses all macro investment assets in terms of investment profits.

Bitcoin 'quietly eating the financial world'

In Q3 2020, Bitcoin recorded its second-highest quarterly close ever. So far this year, the performance of several major investment targets in the market is as follows:

Golden Noon News | September 29th at noon important updates: 7:00-12:00 Keywords: Beijing Monetary Authority, PlusToken, ENM, Compound

1. MakerDAO "Black Thursday" related lawsuits are officially submitted to arbitration.

2. Bitcoin start-up wallet company Purse announced that it will continue to operate.

3. The ENM project newly launched by the founder of encountered a Flash loan attack.

4. Compound launched the governance proposal 025 to support UNI tokens.

5. South Korean banking giant Nonghyup launches a blockchain e-wallet.

6. The Litecoin in the KuCoin security incident is being split and pooled.

7. The proposal to modify the key parameters of the Yam protocol has been approved by off-chain governance and will continue to be submitted to on-chain governance for deployment of updates.

8. Ministry of Industry and Information Technology: Accelerate the pace of application implementation and vigorously develop "Industrial Internet Platform + Blockchain".

9. In the first instance of the PlusToken pyramid scheme case, 16 defendants were sentenced to fixed-term imprisonment ranging from two years to eleven years.

10. Beijing Financial Management Bureau: Actively explore the application of the central bank's legal digital currency in the payment and settlement of data transactions of Beijing Data Institute. [2020/9/29]

1. The price of Bitcoin has risen by nearly 50%;

Analysis | Golden disk: ETH is expected to enter the bullish trend: Golden disk analysis: ETH is expected to enter the bullish trend after a day of high volatility, and the 1-hour level has stepped out of the ascending channel, but there is a slight deviation in macd, and 2 and 4 hours are working hard In the course of the change, the effect is good so far, and the divergence of the daily line bottom we are looking forward to is expected to form today, and a large-scale rebound will start, but whether it can return to $300 needs market verification. In the short term, we remain cautiously optimistic, the market is risky, and investment needs to be prudent. [2018/9/15]

2. The increase of gold is slightly more than half of the increase of Bitcoin, which is 25.6%;

3. The trend of the S&P 500 index shows a strong correlation with Bitcoin, which is currently up 5.5% compared to the beginning of January;

Analysis | Golden disk: EOS/USDT approaching the previous low: Comprehensive analysis of the golden disk: EOS/USDT 6-hour K-line closed out a long cloud, fell to the lower track of the descending channel, and approached the previous low at the same time, here MACD also deviates, pay close attention to energy Whether to form a rebound signal. [2018/8/8]

4. The U.S. dollar has recently started to strengthen, and it can bring holders a 2.2% return year-to-date;

5. Oil is the biggest loser in 2020. WTI crude oil has fallen by nearly 35%.

The above picture is a comparison of the historical trend of Bitcoin and gold, the source of the data is Skew.

Willy Woo, a well-known on-chain analyst who has been studying the return of Bitcoin relative to gold since its appearance in 2009, said that if you invested $1 in Bitcoin on October 6, 2009, you would now get 13.9 million Dollar, Bitcoin are quietly eating the financial world.

The numbers speak for themselves: Even spending $1 invested in Bitcoin a year ago would net you $0.31 now, while investing $1 in gold a year ago would net you $0.27 now. Especially before the end of 2017, when the BTC/USD price reached an all-time high of $20,000, the crypto market began to consolidate further, and the difference between Bitcoin and gold became more obvious. Willy Woo tracked historical data and found that spending $1 invested in Bitcoin five years ago is now worth $44.43, while spending $1 invested in gold is now worth only $1.67.

The graph above shows the return on investment that would have been earned if $1 had been spent on bitcoin and gold respectively over the past decade.

U.S. national debt hits $27 trillion

Willy Woo noted that he believes Bitcoin will soon decouple from gold and other traditional markets to create its own price trajectory.

During the market turmoil in 2020, Bitcoin has been criticized by gold supporter Peter Schiff, but in recent weeks his skepticism of Bitcoin has gradually faded, and he has begun to focus on the dollar and the state of U.S. economic debt.

For the first time in history, total U.S. debt topped $27 trillion, according to data from the National Debt Clock.

Willy Woo concluded by saying:

“The U.S. national debt has just surpassed $27 trillion, an increase of about $7 trillion since Trump took office. Peter Schiff said on October 6 that Donald Trump added more to the national debt in one term than Obama did in 8 years Both. To make matters worse, Joe Biden’s first term could increase the national debt more than both Trump and Obama combined.”

Part of this article is compiled from cointelegraph


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