Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman

Poland Raises Gold Holdings to Record High in September – IMF
By: GoldCore

Asian Metals Market Update: Oct 16 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain While Stocks Drop Again
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 15 2018
By: Ira Epstein

The ultimate financial crisis will be inflationary
By: Steven Saville


GoldSeek Web

Would You Trade Bitcoin for Gold?

By: Rick Ackerman, Rick's Picks

 -- Published: Friday, 8 December 2017 | Print  | Disqus 

The bottle-rocket trajectory of bitcoin’s rally has required me to put out increasingly ambitious Hidden Pivot targets several times each day. Currently I am using 18436 to project a top of some sort, although I hesitate to suggest it will be THE top. Actually, I’d be happy merely to see BTC pull back from that number for more than a few hours — as long as it has taken for this vehicle to obliterate Hidden Pivot resistances that we might have expected to contain the jubilation for a few days if not longer.

This evening, BTC has plummeted nearly $2000 since peaking several hours ago at 17171, a new record. Most of those who have benefited from the cryptocurrency’s breathtaking climb are not traders, just hoarders who may be starting to wonder whether it’s time to get off.  But how? The best way for them to take profits would be to convert bitcoin to cash or to buy something ‘real’ with bitcoin. Something like physical gold — about as real as investables get. At one point on Thursday afternoon, a single bitcoin could have purchased ten St. Gaudens $20 double eagles — and then two more later in the day when bitcoin peaked at 17171.  Would you do that deal? Of course you would.

Coin Dealers Not Leaping to Do the Trade

So why isn’t everyone swapping bitcoin for gold? Well, even if they wanted to, they’d have a tough time finding coin dealers eager to take the other side of the trade. If it were otherwise, the price of gold futures would be rising, not falling as it has for the last month.  Bitcoin hoarders can be forgiven for thinking they’ll make much more money by staying in bitcoin than if they convert their digital lucre to bullion. Realize that the price of gold has been languishing for more than four years near $1250 since peaking in 2011 just above $1900. Even so, can there be any doubt that at some point in the future, bitcoin speculators will regret not having swapped their digital money for gold or some other tangible asset? Even with bitcoin’s value rising a thousand dollars or more per day, this seems like a no-brainer to me. If you don’t subscribe but want to join in the fun, click here for a two-week free trial to Rick’s Picks, including access to a 24/7 chat room that draws great traders from around the world.


| Digg This Article
 -- Published: Friday, 8 December 2017 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2018 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.