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To: Goose94 who wrote (42173)	4/12/2018 1:41:45 AM
From: Goose94	Read Replies (1) \| Respond to of 203373

Bitcoin: Can Tumble Down To Zero At Any Time For Any Reason — Sprott Last year’s argument that “gold is dead” seems outrageous in 2018, especially after bitcoin dropped nearly 70% during the past four months, said Sprott Asset Management, adding that gold is the asset that deserves the status of “immutability.” “One prominent 2017 storyline was, ‘Gold is dead — long live cryptocurrencies!’ Gold and cryptocurrencies were cast as opponents in a ‘monetary’ boxing ring,” CEO of Sprott Asset Management John Ciampaglia said in a report published on Tuesday. “But does anyone still think Bitcoin is a proven ‘store of value’?” Crypto traders are still feeling the shock of bitcoin dropping from its high of nearly $20,000 reached in December to below $7,000 within a period of just four months. Late Tuesday bitcoin was last seen trading at $6,934.80, up 1.43% on the day, according to Kitco’s aggregated charts. But, the price plunge was not that surprising to analysts who view bitcoin as a new asset that is extremely sensitive to a number of triggers, Ciampaglia pointed out. “Any public blockchain could crumble due to lack of funds, lack of users, weak governance, a security breach, or multiple other common risks that face new businesses. Any of these could send the price of the crypto down to $0, leaving investors with nothing,” he wrote. Ciampaglia also referred to investing in bitcoin as “speculation”: “When placing wagers on cryptocurrencies, it’s not a safety or diversification play, but speculation,” he said. You’re betting on startups, whether there’s a company behind it or, like Bitcoin, a decentralized blockchain that you believe will become more mainstream. Gold Always Wins The big debate of bitcoin versus gold is not even a debate, the report stated, highlighting that the yellow precious metal wins every time. “Gold isn’t a startup, and it is certainly no ‘flash in the pan.’ Gold investors do not have to worry about a ‘company’ dissolving, and no matter what happens there is always value in gold bullion — hence its deserved immutability. And that’s been proven over millennia,” Ciampaglia said. Gold has always been a stable investment with an impressive track record, the CEO added. “Gold has a near infinite track record of performance and function … When investing in gold, extreme volatility has not been the historical norm,” Ciampaglia noted. “Gold investors also know that there is a baseline to their investment since no matter what goes wrong in the financial markets, gold still has inherent value.” Anna Golubova