Bitcoin and Gold are two main assets that are considered as strong hedge assets in great inflation and uncertain financial conditions. Analysts always compared the correlation between the two assets, and most of the time, both performed similarly in unnatural happenings in the traditional finance world.
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Bitcoin is also called digital gold due to its dominance over other digital assets and similarity to physical gold. The prominent figures in the community have some personal predictions for both Bitcoin and gold.
BTC Prediction by the Author of “Rich Dad Poor Dad”
The first prediction comes from the author of the famous book “Rich Dad Poor Dad”. According to Robert Kiyosaki, the top digital asset has a bright future and it will touch the figure of $75,000 in the next three years. He believes that the economy will go down due to the incompetency of the Fed and warn people to prepare for the worst. He also states in his tweet that gold will reach $3,000 in the one year.
“ECONOMY [is] dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.”
The views of Kiyosaki may be true as the effects of the dying economy are already popping up. The retail sales witnessed a decrease of 16.4% in April while manufacturing output decreased by 13.7%.
It’s Time for Gold to Shine
A famous economist has a strong belief in gold and predicts that its price will reach $9,000 per ounce in the next some years. Florian Grummes, the founder and managing director of Midas Touch Consulting, said:
“If you look at it from a very long-term perspective, and you can only compare it to the bull market of the 1970’s. Once the bull market started again in 1976, it went up for four years and it went up basically from $100 to $890, so nearly nine-fold. If you use the same ratio to today’s numbers, we would end up having gold, at some point in the future, $8,000, $9,000 gold, but we’re talking five to 10 years, I think.”