In 2019, Investors Might Choose Gold Over Bitcoin: Jan Van Eck

Jan Van Eck, CEO, Director, and President of a New York-based global investment firm Van Eck Associates indicated that gold is gaining its prominence over Bitcoin and investors are returning back to invest into the long term and traditional commodity which is considered as a store of value by many. The interview published by CNBC on Jan. 26.

According to Van Eck, the need of Bitcoin over Gold is somewhere lacking. The inventor and strategist of two gold known ETFs, dubbed as “GDX gold miners ETF” and “GDXJ junior gold miners ETF” said,

“Interestingly, we just polled 4,000 bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to bitcoin and now it’s going the other way.”

Although, since Dec 2017, the investor’s interest in Bitcoin increased when it was mounted at $20,000- noticeably picked up by 25 times and gold also improved by 4%. However, in a span of one year the drastic downtrend of bitcoin in 2018 made the crypto market bearish but in contrast, gold is still enjoying an upward and smooth trend and is up by 2.5% which is why it is attracting the depositors.

Also Read: Report: Localbitcoins.com Allegedly Hacked, Forum Temporarily Down

Interestingly, Van Eck, also mentioned both the two ETF’s are over the past “two or three months” performing impressively good. Playing with gold ETF would be a nice option in 2019 “if gold shares get a bid.”

Reportedly, he believes,

“The shares have been acting tremendously well over the last two or three months. It’s starting to zig when the stock market zags. In the majority of the days in Q4 when the S&P was down, GDX was up. So that zigzag, that decoupling makes me really excited about gold shares as a diversifier.”

According to CNBC, the GDX ETF performed best in the 4th quarter since the 2nd quarter of 2016, by raising 14%. Moreover, the GDX is up in January, under 1% as the S&P 500 grew 6%.

Correspondingly, Seymour Asset Management, founder and chief investment officer, Tim Seymour also judges the crypto bearish trend and throw-out his opinion by saying that,

“Not only have we lost all liquidity on the underlying commodity but truly outside of the existential blockchain argument, it’s been very difficult to argue store of value which is really what we started hearing about. He concluded that “Gold is a store of value and there’s no disputing that.”

Also Read: Ripple (XRP) Might Beat Bitcoin in 2019, as per Weiss Ratings

The year 2019, has just begun, however, the trend may be down but the whole year is still lying ahead to turn the situations upside down along with the state of affairs. No, doubt gold and other commodities are the safer options for the investors but still, there is very high hope of other strategists and analysts over this bearish trend of the market which can result in the bullish trend in coming times. It is the time to educate the readers and the investors about the money making process to keep the hard earned money safe which many of the populaces lost due to the 2009 financial crisis by depending upon the filthy and corrupted institutions.

What our readers think about this mindboggling trend we are waiting for the comments…